Key Findings from a survey of 500 European fashion retailers
Retailers are undoubtedly enthusiastic about innovation, with more than half viewing it as a priority for their business. But when it comes to actually delivering innovation, retailers face a variety of challenges.
To find out how retailers are approaching innovation in 2017 and beyond, we surveyed 500 retailers from across Europe. Here, in a summary of our full report, we share five key findings.
9 in 10 retailers take innovation seriously
Almost all retailers surveyed recognise the value of innovation, highlighting the growing importance of innovating in order to stay ahead in an increasingly competitive market. UK retailers in particular, place great emphasis on innovation, with 76% of respondents saying that it is a priority for their business.
A lack of time is the #1 barrier to innovation
Fashion retailers cite several barriers to…
What are Ecommerce brands like yours spending on search engine marketing?
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What are your goals?
Marketing budgeting should be designed specifically to meet your ecommerce goals. Different types of goal are more suited to different channels, for example if you want to get a better ROI on marketing spend you might want to shift some budget from PPC to SEO. Conversely, if you’re looking to increase sales in the next quarter, you might want to turn on some paid media advertising in order to…
Plan your use of new marketing technologies to future-proof your business
Digital Marketing is constantly playing catch up with the latest new tech trends. This means that the only way to get great results from digital marketing and execute a successful digital marketing strategy is to be aware of the latest technology and be actively innovating by putting cutting-edge techniques into practice. Not doing so is a sure fire way to fall behind the competition.
The pace of technological change is not just relentless, it is constantly increasing. Where once it may have taken 10 years for a platform to achieve 50% adoption, now it may only be two or three- as you can see from the chart below. As these trends accelerate we could soon enter a time well new technologies decelerate so fast we measure the time for them to reach the masses in weeks and months rather than years and decades.
…
Virtual Reality and Augmented Reality will transform from interesting gimmick to core marketing channel
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Lee Wilson, Head of SEO
In the digital arena you work with big data…
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Qualitative analytics are the next frontier for cutting edge marketers
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On average only one-third of businesses have a process for funding tech innovation across the whole business
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Technology innovation will be what brings in the customers of tomorrow. Those businesses who've used the latest tech to create the best products and the most seamless customer journeys will be the ones winning in the years ahead.
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Yet only a minority of businesses actually have a formal process in place across the business for funding technological innovation. The best performers were businesses with a turnover of over 250 million dollars, but even they had only a minority of 45% that were using formal processes established across the business. Smaller businesses…
