A new study has been released which finds that half of all executives believe that ecommerce is disruptive. In a world in which more and more of us are buying many goods and services online (and even when not, using it to research products, brands or services) about 50% of all marketers and retail executives believe that ecommerce is ‘disruptive or hugely disruptive’ to their industry.
The study was undertaken by a collaboration of two companies. Kantar Millward Brown are a leading creative branding agency and Criteo, the creators of the ‘world’s most intelligent performance marketing engine’. The study also found that the biggest pain points for retail marketers were trackability (58% of respondents) and measurement and attribution (59% of respondents). Just over 50% of those marketers questioned also said that they feel the need for more innovative and better ways to target younger consumers.
Jonathan Opdyke, President, Brand Solutions, Criteo said about the report:
“Trade marketing is undergoing a profound shift. To profitably target and acquire shoppers, both online and offline, marketers must adapt their trade practices and budgets. This study confirms that retail marketers need solutions that allow for real-time measurement of ROI and an end to the debate between offline vs. online, in favour of an omnichannel.”
The detailed report has a number of interesting and insightful takeaways including:
- 33% of marketers say that their biggest challenges are Amazon setting prices and brand/retail sites conflicting. With the ever increasing domination of Amazon across ecommerce sectors this only looks set to increase.
- 62% believe paid search will see the biggest growth in effectiveness. As well as Google Adwords, paid search is becoming more and more effective across a range of social platforms including Instagram and Twitter. Facebook has been found to be particularly effective thanks in the main to its huge reach and the ability to drill down into very specific parameters.
- 52% believe print will see the biggest decrease in effectiveness. Whilst print will always have a degree of effectiveness, for many brands they are now focusing all of their energies on online. However, on the flip-side, this could provide some brands who are willing to look beyond online to find print as a cost effective marketing channel, depending of course upon the sector that they operate in.
“Especially in the CPG and Grocery sectors, we’re seeing a clear indication from marketers that the time is right for brand and trade marketing to align,” Adrian McCallum, Senior Director, Kantar Millward Brown. “This move, combined with more widespread integration of digital technology, helps connect marketing efforts more closely to the sale and creates greater shopping efficiencies.”