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Internet Retailer Top 1000 Use Shopify As Their Ecommerce Platform Provider

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Internet Retailer Top 1000 Use Shopify As Their Ecommerce Platform Provider RESEARCH the global leader in ecommerce data IRINTERNET RETAILER Ranking, data and analysis of the top ecommerce technology providers. Internet Retailer, a Digital Commerce 360 brand INTRODUCTION A growing number of retailers are seeing the RETAILER SURVEY benefits of utilizing the services of a vendor NEW TECHNOLOGY: IN HOUSE VS. VENDOR rather than handling every facet of their When implementing a new technology, do you typically ecommerce operation themselves. use a vendor or try to build the technology in house? In fact, 66.0% of Internet Retailer’s 2019 Top 1000 retailers use a vendor to power their ecommerce In house platform, compared with 34.0% who manage all, or at least some, of their platform management 35% in house; 84.2% of Top 1000 retailers use a vendor Vendor for email marketing, compared with 15.8% that 65% handle it in house or at least partially in house; and 79.2% of Top 1000 retailers use a vendor for personalization services compared with 20.8% that handle it in house or partially in house. Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 Additionally, 65% of retailers choose to use a vendor—compared with 35% who selected in house—when implementing a new technology, according to Internet Retailer’s 2019 Ecommerce Technology Survey of 160 retailers conducted in August 2019. RETAILER SURVEY TOP REASONS RETAILERS USE A VENDOR What are your reasons for using a vendor? (Multiple responses allowed) 70% 64% 48% 37% 30% 15% 2% We don’t have Vendors are We’ve found it We’ve found it is Our employees There is more Other (increased the expertise specialized in is faster to get a cheaper to use a are too busy accountablity agility, keeping in house their fields project completed vendor than build with other when we use an pace with newer when using a vendor from scratch projects outside vendor technology) Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 2 ©Copyright 2019 Internet Retailer® (a Digital Commerce 360 brand) & Vertical Web Media LLC. All rights reserved. Data as of September 2019. INTRODUCTION 2020 LEADING VENDORS TO THE TOP 1000 RETAILER SURVEY RETAILER SPENDING PROJECTIONS FOR ECOMMERCE TECHNOLOGY Will your spending on ecommerce technology and services increase, decrease or remain the same over the next year? Remain the Increase 81% same 17% Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 Decrease 2% And retailers trust vendors have the expertise marketing to fulfillment—vendors offer a slate that their own staff don’t to upgrade or of services that can provide retailers with implement new technology. 70% choose a everything they need to get their ecommerce vendor because they don’t have in-house operations up and running, or to improve upon expertise and 64% do so because vendors are outdated practices. Plus, many retailers are specialized in their field, according to the survey. ready to invest in more technologies. 81% of (Respondents could select multiple responses). survey respondents said they plan to increase 48% of retailers found it faster to get a project their spending on ecommerce technology and completed when using a vendor, and 37% said services in the next year to add more services it is cheaper to use a vendor than build the and technology to their operations. That technology from scratch in house. suggests the time is ripe for vendors to market their services to retailers that are ready to Across nearly every aspect of ecommerce— boost their offerings to keep up with growing from ecommerce platforms to site design to ecommerce demand. 3 ©Copyright 2019 Internet Retailer® (a Digital Commerce 360 brand) & Vertical Web Media LLC. All rights reserved. Data as of September 2019. INTRODUCTION 2020 LEADING VENDORS TO THE TOP 1000 86% of online merchants plan to increase their improve conversion rate (71%), retain existing ecommerce technology spending to attract customers (57%), better personalize shopping new customers, according to the survey, experiences (49%), improve mobile shopping making it the top response. (Respondents could experience (47%), reach more buyers select more than one answer.) Other reasons through social media (42%), and enhance to increase spending include the following: cybersecurity measures (14%). RETAILER SURVEY REASONS RETAILERS SPEND ON ECOMMERCE TECHNOLOGY What are your main reasons for spending more on ecommerce technology over the next year? (Multiple responses allowed) Attract new customers 86% Improve conversion rate 71% Retain existing customers 57% Generate more sales from repeat customers 54% Better personalize shopping experiences 49% Improve mobile shopping experience 47% Reach more buyers through social media 42% Improve desktop and mobile website performance 41% Generate more traffic and sales through mobile commerce 40% Support more cross-channel shopping and marketing/merchandising 36% Increase ticket size 26% Mobile site development 20% Enhance cybersecurity measures 14% Mobile app development 13% Other (kiosks, operations and fulfillment) 5% Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 4 ©Copyright 2019 Internet Retailer® (a Digital Commerce 360 brand) & Vertical Web Media LLC. All rights reserved. Data as of September 2019. INTRODUCTION 2020 LEADING VENDORS TO THE TOP 1000 RETAILER SURVEY CHALLENGES IN UPGRADING ECOMMERCE TECHNOLOGY In general, what are the main challenges you face in upgrading your ecommerce technology? (Multiple responses allowed) 47% 36% 32% 17% 13% 11% Lack of funds Not enough Too many older Too many options Getting management Other experienced staff systems to integrate to choose from approval Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 But upgrading technology is not always easy. (32%), too many options to choose from (17%) The No. 1 challenge for retailers that want to and getting management approval (13%). upgrade technology is lack of funds, which 47% of survey respondents selected. Even so, plenty The message is clear: Ecommerce retailers want of merchants plan to significantly increase their better-performing sites on all devices, to reach spending: 9% will increase their ecommerce more customers, convert more shoppers to buyers technology spending more than 50% over the and encourage those shoppers to come back by next year, while 50% of respondents plan to providing fast shipping and top-tier customer increase spending 10-25%. service. But checking all those boxes on their own can seem insurmountable to some. Vendors can Other challenges to upgrading ecommerce take over some, if not all, of those tasks to deliver a technology include not enough experienced seamless shopping, shipping and customer service staff (36%), too many older systems to integrate experience for retailers’ customers. RETAILER SURVEY HOW MUCH RETAILERS PLAN TO SPEND ON ECOMMERCE TECHNOLOGY How much of an increase in ecommerce technology spending do you anticipate over the next year? More than 5% or less 5.1%-10% 10.1%-15% 15.1%-25% 25.1%-50% 50% 10% 19% 25% 25% 12% 9% Source: Internet Retailer Ecommerce Technology Survey of 160 retailers in August 2019 5 ©Copyright 2019 Internet Retailer® (a Digital Commerce 360 brand) & Vertical Web Media LLC. All rights reserved. Data as of September 2019. HOW ECOMMERCE PLATFORMS HAVE EVOLVED. .9 FULFILLMENT MATTERS FOR CUSTOMER EXPECTATIONS . 15 MARKETING AUTOMATION WITH ARTIFICIAL INTELLIGENCE . 18 EMAIL MARKETING STRATEGIES . .26 KEY 2019 MERGERS AND ACQUISITIONS . 31 CONCLUSION . .37 ABOUT. .105 The author Internet Retailer Research CHARTS New technology: In house vs. vendor ....................2 Types of technology retailers want in a new platform ..........................................11 Top reasons retailers use a vendor..........................2 Features retailers look for Retailer spending projections when selecting a vendor........................................19 for ecommerce technology ......................................3 Top 1000 website traffic from email .....................27 Reasons retailers spend on ecommerce technology ............................................4 Top 1000 email marketing characteristics ..........28 Challenges in upgrading Top 1000 website traffic from email .....................29 ecommerce technology ............................................5 Top 1000 email marketing characteristics ..........30 How much retailers plan to spend on ecommerce technology.......................................5 Past vendor project evaluation .............................38 Ecommerce platform plans . .10 Past vendor project timeline and budget ............38 6 ©Copyright 2019 Internet Retailer® (a Digital Commerce 360 brand) & Vertical Web Media LLC. All rights reserved. Data as of September 2019. TOP 10 LEADING VENDORS BY CATEGORY. .42 Affiliate Marketing . 44 Order Management . 73 Channel Management . 48 Payment Security/Fraud Prevention . 74 Content Delivery Network . 49 Payment Processing. 78 Content Management Systems . 50 Personalization. 79 Customer Relationship Management . 51 Search Engine Marketing . 83 Customer Reviews & Ratings . 52 Security Certification . 87 Customer Service Software & Support . 53 Shipping Carrier . 88 Ecommerce Platform . 54 Site Design & Development . 92 Email Marketing . 58 Site Search. 94 Fulfillment Services . 61 Social Media Marketing. 98 Fulfillment Software . 65 Web Analytics . .102 International Ecommerce Services . 67 Web Hosting/Cloud Services
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