With global e-commerce expansion on the rise, brand manufacturers are placing a greater focus on digital to drive organic growth and increase sales. Having a digital sales presence has gone from being a “good-to-have” to a “must-have”. The question brand marketers must now ask is how to capitalize on digital channels to accelerate revenues.
Digital factors, including online marketplaces, online advertising and mobile search, influence half of US retail sales, according to Forrester. This is expected to grow to 58% by 2023. In other words, whether the sale occurs online or in-store, the odds that it was influenced by digital factors are pretty high.
With more than half of purchases being digitally-inspired, more and more brands are betting on innovative ways to increase their competitiveness online. This trend is not exclusive to the US. Across the globe, brands are taking steps in this direction by expanding their digital storefronts – either through DTC (direct-to-consumer) routes, B2B e-commerce sites, or online marketplaces. From investing in digital advertisements and analytics to creating immersive content assets, brands are exploring all possible digital technologies to boost sales.
Given the high stakes, brand marketers are faced with growing pressures to increase returns from their digital investments. In this ebook, we’ll outline the steps brand manufacturers should take to improve their e-commerce performance.