On Tuesday, MMW was privy to the findings of a new study from Emarsys, a provider of cloud marketing software for B2C companies.
The results stem from its in-person and online survey of 254 retail professionals published in partnership with WBR Digital.
The survey, “Adapting to the Pace of Omnichannel Commerce” examines how US-based small and medium-sized businesses (SMBs) with annual revenues under $100 million are handling fierce competition from today’s larger retail players.
Based on the findings of top retail SMBs surveyed:
- 81% of SMBs still rely on email as a driver for customer acquisition, and 80% for customer retention;
- 73% of retailers rank email as a top budget item, with one in five ranking it as a top priority to invest;
- SMBs saw gains in major KPIs: conversion rates increased by 72%, average order value increased by 65%, and repeat customer purchases increased by 58%;
- 70% of SMBs begin holiday planning no later than July; and
- 54% of SMBs identified cart abandonment emails as the most successful marketing tactic and site-based recommendations came in second at 47%.
“We found that SMBs are nimble and quick to respond in today’s competitive retail environment,” said Sean Brady, President of the Americas at Emarsys. “SMBs seek agile platforms that are quick to implement and easy to use. SMBs like Cheaper Than Dirt!, Rawlings, and Scrubs & Beyond have turned to Emarsys to see an immediate ROI, remain competitive and connect with their customers at the right time on the right channels. Additionally, SMBs are leveraging insights on customer behavior to create a seamless shopping experience for customers across devices and channels. This is evidence that SMBs are focused on customer retention – something the bigger players need to consider.”
To learn more about the study or to obtain a copy, click here.