Leading Retail Brands Focus on Technology to Remain Relevant in a Competitive & Mobile Market
Krispy Kreme emphasises importance of online experience to drive sales
- Almost half of Australia’s top retail brands are concerned about the impact of international competitors on their business
- Nine in 10 Australian retailers have implemented new technology in the last 12 months to deal with increasing competition
- Top three business priorities for retail brands in 2016 include greater personalisation of content, improved site-search capability and provision of relevant search results
- 42 percent of retail brands would be keen to improve their mobile software, with around a quarter (23 percent) keen to implement virtual reality
Sydney, Australia – April 13, 2016 – Nine in 10 e-commerce retailers adopt new technology at a rapid rate in response to a fast-changing retail market, according to a survey from SLI Systems (SLI.NZ).
Conducted at the SLI Connect summit in Sydney, the survey provides a snapshot of insights, challenges and perspectives from Australia’s leading retailers about the coming year.
With increasing competition and heightened expectations of the online experience, Australian retailers have responded by implementing changes to their e-commerce strategies:
- More than half (52 percent) have optimised their site for mobile and tablet
- Almost half (48 percent) have upgraded their e-commerce platform
- 29 percent have offered free shipping
- One in five (19 percent) have started selling internationally
Speaking at the SLI Connect summit last week, Russell Schulman, Digital Business Manager at Krispy Kreme Australia, outlined how the retail giant has developed a successful doughnut delivery service in Australia through capturing the magic of the brand online and meeting consumer demand for quick and flexible delivery.
“It’s no secret that e-commerce retailers need to streamline their websites and make sure that they are easy to use for the average punter, but the secret is how,” said Schulman. “Most businesses don’t realise how easy it is, or how important it is. You don’t need to go all out and start having virtual reality on your website. Simple tricks, such as auto-completing sentences or highlighting more relevant products, can improve the quality of the website experience.”
Blair Cassidy, VP of Product Management at SLI Systems, said, “The results of the SLI Connect survey show how local retailers are increasingly adopting new technology and highlights how e-commerce needs to constantly adapt and evolve in order to meet changing consumer demands.”
“According to the February 2016 NAB Online Retail Sales Index, it is estimated that Australians spent $19.2 billion on online retail in the past 12 months – equivalent to 6.6 percent of traditional brick–and-mortar sales. This demonstrates the strong opportunity for online retail and the e-commerce market to grow, but also the need to support local brands to develop compelling e-commerce strategies to compete on a global scale.”
“During the next year, it is clear brands can capitalise further on e-commerce, with 78 percent saying they have been able to directly attribute sales to specific online tools. In order for this to continue to happen, brands must embrace e-commerce and include it in their omnichannel approach. Here, they can continue to tap into a growing market,” Cassidy added.
According to the survey, 77 percent believe increased expectations of the online customer experience have been the main driver of changes to the e-commerce industry during the past 12 months. Two in five of the retailers attending the conference (42 percent) said mobile has changed the way they reach consumers.
“It is good to see more people understand the effect mobile can have on business in converting sales,” said Blair Cassidy. “It’s easy and simple for retailers to implement new mobile technology on their websites; they just need to be told how.”
The survey was conducted in Sydney on April 6 at SLI Connect, at a gathering of e-commerce thought leaders to better connect site visitors to the products they seek to buy. More than 80 delegates confirmed their participation in the one-day event that focused on the best practices in e-commerce and site search.
About SLI Systems
SLI Systems (SLI.NZ) enables the world’s leading e-commerce retailers to accelerate sales by connecting shoppers with the products they’re most likely to buy. With offerings that include site search, navigation, merchandising, mobile, product recommendations and user-generated SEO, SLI is the most chosen cloud-based site search provider to U.S. Internet Retailer Top 1,000 retailers. The company’s patented technology continuously learns from the actions of visitors to deliver the most relevant results possible. Whether via PC, tablet or phone, a site powered by SLI delivers the kind of satisfying search experience that increases conversion rates, secures brand loyalty and results in higher order values. SLI operates on five continents. For more information, visit uscorporatesli.wpengine.com.au/.
Connect with SLI:
02 9213 2333 / 0423 009 773
03 9018 5058
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