Many Retailers Want to Modernize Payment Options

And if money weren’t an issue, they would also focus on big data insights

Author: Rimma Kats

December 7, 2017

Retailers are constantly looking to improve the shopping experience, but leveraging new technologies to do so can be costly. 

A spring 2017 study from Oracle and cloud-based marketing automation provider Bronto Software, which was released this past November, asked US retailers a hypothetical question: What ecommerce innovations they would focus on if money or time were not issues. 

A large share of respondents (44%) said they would focus on newer payment options, like one-click ordering, while a little over a third said they’d like to focus on social selling.

Overall, many of the responses had a similar theme—enhancing the user experience. Some 33% of retailers said they would strive to offer subscriptions and curated services, and over a quarter mentioned dynamic personalization.

And this continued theme of enhancing the customer experience has many retailers trying out different tactics to influence ecommerce sales. A study from marketing personalization tech startup Qubit, which was audited by PwC, analyzed 2 billion website visits and 120 million purchases over a four-year period.

Qubit looked at the various tactics used, including scarcity messages warning consumers that items were low in stock, as well as product recommendations. The company found that “changes to welcome messages and a redesign of certain elements made a difference.”

But the study also revealed that not all tactics worked. Some had zero—or even negative—impact.