Data Reveals Major Brands Aren’t Ready for the Future of E-Commerce

Echo Cove Research, Salsify Find Big Disconnect in How Brands Sell
and Consumers Buy

BOSTON–(BUSINESS WIRE)–Salsify,
the only SaaS platform that powers the seamless creation and exchange of
rich product content for products on the digital shelf, today released
market research data revealing that major brands are concerned about
their level of preparedness for the future of e-commerce.

The data, gathered by Echo Cove Research from interviews with 200
leaders in e-commerce from major consumer brands, found that only 25
percent surveyed believe their organizations are ready to adapt to
future shopping channels. Similarly only 29 percent of brands surveyed
agreed that their organizations know how to capitalize on the growing
e-commerce and mobile commerce markets. Despite their lack of readiness,
the data also found that brands plan to drastically increase products,
sales, and expand their use of digital channels in the next two years:

  • 73 percent of brands plan to sell more SKUs through major online
    marketplaces
  • 75 percent of brands plan to sell more SKUs on major retail sites
  • 40 percent of brands that don’t currently sell through their own
    websites, will do so in the next two years

Further deepening this disconnect, only 43 percent of brands surveyed
believe that consumers buy based on product content, yet according to a
study by Comscore
and UPS
, 73 percent of consumers reported that detailed product
information is the single most
important factor in the search and selection process when buying online.
And despite the clear consumer demand for detailed product content, only
41 percent of brands listed improving their product content management
systems as one of their top priorities.

Brands that recognize the importance of product content will “win” at
e-commerce, according to McKinsey
& Company
.“The best-performing CPG companies are pushing the
boundaries of the ‘perfect page’ online by providing rich product
information and content that also helps deliver search results that are
more favorable to their company.”
Brands with centralized product
content management systems in place also feel optimistic about the
investment, with 68 percent believing in the power of content to drive
sales.

“It is becoming clearly evident that to remain competitive and agile in
today’s omnichannel world, brands need to pay special attention to what
consumers need when they’re shopping online,” said Jason Purcell,
Co-founder and CEO of Salsify. “We are finding more strikingly than ever
before that product content is core to the consumer experience. This
research shows that companies addressing this need are more prepared to
meet the challenges of new channels and consumer demands. They are the
‘Best of Breed’ brands.”

This research data marks the first in an annual industry benchmark that
Salsify will conduct, evaluating the importance of product content in
e-commerce experiences and how the market shifts to address this
important consumer need. To learn more about this data, or to download
the full market research results, please visit: http://hubs.ly/H01npg10.

For additional resources, including a wealth of additional market
industry information, infographics and comprehensive eBooks on
e-commerce, please visit the Salsify
Content Center
.

About Salsify

Based in Boston, Salsify is the only SaaS platform that powers the
seamless creation and exchange of rich product content from brands to
retailers. Salsify transforms product content management from an
administrative burden into a driver of new revenue and amplified brand
value. For more information, please visit: http://www.salsify.com.

Contacts

On behalf of Salsify
Matter Communications
Jenna Fogle,
978-518-4506
salsify@matternow.com

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