LAWRENCEVILLE, N.J., April 04, 2017 (GLOBE NEWSWIRE) -- The demands of today’s global commerce landscape pose an incredible challenge for merchants and suppliers. As the global $1.9 trillion e-commerce landscape continues to expand, companies are facing difficulties successfully managing cross-channel commerce across continents, supply chains, and software systems, and are losing revenue as a result. Some even doubt the value of investing in these capabilities.
In fact, 53 percent of merchants and suppliers experience a knowledge gap within their organization when it comes to understanding the value of cross-channel capabilities, according to 1WorldSync’s Charting Course for Global Commerce, released today.
To further understand the challenges and opportunities in navigating today’s multi-channel sales environment, 1WorldSync, the leading multi-enterprise product information network, surveyed 400 merchants and suppliers from Europe and the U.S. with more than $500 million in annual revenue. The survey found that merchants and suppliers are not prepared to meet the cross-channel demands of today’s customers, and while there are clear market leaders, no company has perfected multi-channel commerce.
Merchants and Suppliers Face Significant Roadblocks in Navigating Cross-Channel Commerce
Key findings suggest that a majority of merchants and suppliers are not fully prepared to meet the varied demands of modern customers. Channel readiness is a significant struggle throughout the supply chain as e-commerce continues to evolve. Other data highlights include:
“In the dynamic world of digital commerce, merchants and suppliers are facing significant issues capitalizing on the opportunities within different channels and geographies. As the space has evolved, there are more regulations to comply with, more channels to be present on and more partners to trade with than ever before,” said Nihat Arkan, CEO of 1WorldSync. “Before both sides of the retail equation can truly master omnichannel commerce, they have to ensure their digital investments address their current challenges.”
Market Leaders Show the Path Forward
While many merchants and suppliers surveyed struggle with different aspects of the retail experience, there are clear lessons to be learned from market leaders (defined as companies that complete 51 percent or more of sales online). For companies looking to learn from these market leaders and upgrade their e-commerce capabilities, top action items include:
“Early adopters of retail technologies that make cross-channel commerce more efficient and streamlined have become clear market leaders,” furthered Arkan. “Because of the breadth and scale of today’s e-commerce environment, managing product content while investing in infrastructure that can adapt to future market demands should be a major priority for every company in this space. The key lesson for the rest of the market is that investments in technology that centralizes data and better enables merchants and suppliers to be more connected pay off.”
For more information, visit www.1worldsync.com.
About 1WorldSync
1WorldSync is the leading provider of product content solutions, enabling more than 25,000 global companies in over 60 countries to share authentic, trusted content with customers and consumers, empowering intelligent choices for purchases, wellness, and lifestyle decisions.
Through its solutions, technology platform and expert services, 1WorldSync provides solutions that meet the diverse needs of its customers. For more information, please visit www.1worldsync.com.