A new report has revealed the evergrowing importance of digital communications to retailers.
The first InternetRetailing Top500 Index (IRUK 500) examined which retailers are at the forefront of digital retailing, how they are achieving leadership and what others can learn from them.
The report identifies opportunities for improvement for your consumer brand in key areas such as logistics and delivery, the mobile offering and social media interaction.
Key findings from the IRUK 500 Index include:
- The ‘Elite Retailers’ that performed exceptionally in all dimensions (based on their complete digital offering) are: Amazon, Argos, House of Fraser, John Lewis and Marks & Spencer
- 331 (66%) of the Top500 have no mobile app and 407 (81%) have no mobile transaction app
- Only 218 (44%) of Top500 retailers offer ‘click and collect’ – The ability for customers to collect products in-store and therefore missing out on in-store traffic
- 82% of retailers charge for standard delivery; the median cost is £3.99
- Retailers fail to respond to 75% of Twitter mentions and 85% of Facebook comments – a missed opportunity to engage with potential customers and connect them to products
- 8am Twitter posts are 800% more likely to be retweeted than those made between 10am and midday.
Ian Jindal, creator of the IRUK500 and editor-in-chief at InternetRetailing, said: “Multichannel retail is and will continue to rapidly reshape the entire economic model of retail. It is astounding to see from the report how many opportunities are not being taken by retailers of all sizes; and no surprise that those with a dedicated approach to digital improvement, are making our Elite.
“A retailer’s brand is becoming increasingly important in the digital era. One reason for this is because retailers no longer compete just with each other, but also with wholesalers selling direct. Think of the way Nike has invested in its online presence, offering customers the chance to order personalised trainers via the web. To compete, retailers also need a strong brand presence, which has to be built at least in part through social media and effective use of Google search. It?s surprising how many companies still seem to be struggling with social media. They need to work out ways to use social media more effectively.”
The report is available as a free download on the Internet Retailing website.