Verndale, a marketing technology agency, unveiled the "2016 Digital Commerce Report: Strides and Shortfalls in Strategy and Implementation," a report examining digital commerce across organizations with at least $50M in revenue. According to the research, most B2B and B2C organizations have a commerce system in place, but the strategies behind those systems are lacking and execution is not yet optimal.
In the era of Amazon, digital commerce can't be ignored. Today's commerce-driven marketplace is filled with consumers who hold expectations for seamless, intuitive and relevant brand experiences, and that includes their path to purchase.
The report highlights that the majority of U.S. enterprise businesses understand the importance of digital commerce systems, but do not have comprehensive strategies in place that encompass all channels. While digital commerce has risen in its importance and demonstrated its ability to deliver value in the market over the past decade, most organizations are still unsure how exactly to leverage its potential.
- 45% of enterprise marketers and technologists say managing the IT platform is the biggest day-to-day challenge associated with their commerce strategy and program
- Only 25% of that group strongly agreed that their organizations have well-conceived, comprehensive cross-channel commerce strategies
- 41% of enterprises plan to implement a commerce system in the future, while 51 percent already have one in place
- 68% of enterprises say they will focus primarily on incremental enhancements to existing systems, while 25% are embarking on large transformational projects
The research uncovered that enterprises see weak execution of digital commerce due to a lack of employee expertise, as well as the complexity of managing an IT platform that is both secure and scalable. That said, the resources are being put toward getting digital commerce sorted out. Investment in digital commerce is a focus across organizations this year -- with the report stating that it will encapsulate 11-30% of both the 2016 marketing and IT budgets.