Lack of tech investment hurting omnichannel retailers
Many UK retailers risk losing out on potentially millions of pounds worth of sales due to lack of investment in omnichannel technology, according to research by Visualsoft.
Its study, which analysed 240 of the UK’s leading retailers, revealed that while 98% of brands have a website, there is a shortfall in the number supporting this with other sales channels. Four in five shoppers are using retailers’ mobile app, but only 51% of brands have invested in this technology, despite the fact that app conversion rates are around three to four times higher than mobile sites alone.
61% of retailers, meanwhile, are neglecting to use marketplace platforms, such as Amazon or eBay, to sell their products and reach a wider customer base. Chris Fletcher, Visualsoft’s Head of Onboarding, says: “We know that consumer behaviour is changing, with an increasing number of customers starting their purchase journey on Amazon and eBay. Our data shows that mobile devices account for over half of online transactions in the UK, so making it as easy as possible for customers to shop in this way is more important than ever. Retailers need to ensure they maximise sales by making the most of all available marketing tools. This could be particularly important with Easter just around the corner and future spending holidays in the retail calendar on the horizon throughout 2018.”