Half of UK retailers are missing out on major sales opportunities due to a lack of investment in multichannel technology, according to new data.
The study from e-commerce and digital agency Visualsoft, which analysed 240 of the UK’s leading retailers, revealed that while 98% of brands have a website, there is a shortfall in the number of businesses supporting this with other sales channels, and potentially losing out on millions in revenue as a result.
The research showed that, despite four in five shoppers using a retailer’s mobile app, only 51% of brands have invested in this technology. App conversion rates are also around three to four times higher than mobile sites alone, highlighting the importance of this channel.
It was also found that 61% of retailers are neglecting to use marketplace platforms, such as Amazon or eBay, to sell their products and reach a wider customer base. Latest figures show that eBay counts an audience of 170 million shoppers, while Amazon continues to dominate online retail on a global scale.
Chris Fletcher, Visualsoft’s head of onboarding, said: “Despite huge growth opportunities for retailers that use multichannel technology, more than half of the
UK’s leading brands are failing to invest in these invaluable platforms – a worryingly large figure.
“We know that consumer behaviour is changing, with an increasing number of customers starting their purchase journey on Amazon and eBay. Our data shows that mobile devices account for over half of online transactions in the UK, so making it as easy as possible for customers to shop in this way is more important than ever.”