Evaluation of actual purchases and returns, throughout digital and bodily buyer journeys finds Unified Commerce leaders outperform opponents by as a lot as 6X in income development
SYDNEY, March 23, 2023 /PRNewswire/ — Manhattan Associates Inc. (NASDAQ: MANH), in partnership with Google Cloud and Zebra Applied sciences, immediately introduced the findings of the business’s first real-world evaluation of Unified Commerce in specialty retail. The Unified Commerce Benchmark for Specialty Retail, performed by Incisiv, assessed 124 retailers throughout 11 specialty retail segments on the implementation of 286 key attributes of Unified Commerce.
Based mostly on perception from actual purchases, returns, and buyer journeys throughout digital and bodily channels, the benchmark reveals the widespread attributes of profitable retailers and the alternatives for others to enhance their buyer worth and modernize operations. Of the 124 retailers benchmarked, 15 emerged as leaders. These manufacturers are Academy Sports activities + Outside, American Eagle Outfitters, Belk Inc., Crate & Barrel, Levi’s, Macy’s, MAC Cosmetics, Neiman Marcus, Nordstrom, Pandora, REI Co-op, Saks Fifth Avenue, Sephora, UGG and Zales.
In immediately’s quickly evolving ecosystem, retailers want full visibility on and perception into each side of their enterprise, from back-end to customer-facing. Unified Commerce options mix a retailer’s front- and back-end techniques to determine a single view of the enterprise. That single view informs higher decision-making and enhanced buyer experiences, whereas enabling manufacturers to establish and reply to developments shortly, in the end driving stronger income development by as much as 6X. Nonetheless, consolidating techniques and constructing a cohesive Unified Commerce answer may be fairly difficult. The benchmark recognized the next widespread challenges in retailers’ efforts to undertake this new mannequin:
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Personalisation – Retailers should be capable to establish shopper intent and curate a customized expertise that meets their expectations. Nonetheless, solely 38% of the retailers studied give their retailer associates entry to shopper buy historical past and want lists throughout all channels. Solely 20% of the retailers studied supplied personalised product suggestions and affords. As a class, digitally-native vertical manufacturers (DNVBs) outperformed the broader retail cohort on this space, with 42% providing superior personalisation capabilities – 16 factors forward of the general group examined.
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Actual-Time Stock Visibility – Visibility into allocatable and saleable stock and wealthy findability are vital for retailers wanting to offer a seamless omnichannel expertise. Solely 29% of the retailers studied present real-time stock statistics on their product element pages.
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Comfort and Flexibility – In the present day, comfort is about extra than simply pace of supply. Comfort encompasses offering a number of cost and supply choices and the power to make modifications to an order after the sale. Solely 15% of the retailers studied supplied the choice to vary achievement methodology put up order affirmation. On a median, solely 27% of the retailers supplied the power to return retailer purchases on-line.
“Consumers do not see channels the way in which retailers do. Unified Commerce can solely present the extremely custom-made buying expertise anticipated by immediately’s shoppers if there may be true visibility of stock availability, and suppleness throughout and after the sale,” stated Manhattan Associates president and CEO, Eddie Capel. “Embracing a Unified Commerce mannequin can drive sturdy enterprise development, excessive income alternative, result in aggressive benefit and heightened buyer loyalty that each retailer covets. With the precise expertise and options, they will outperform their friends by as a lot as 6X.”
“Zebra Applied sciences helps retailers globally optimize their stock and interact their associates to enhance productiveness and ship an elevated buyer expertise,” stated Invoice Burns, Chief Govt Officer, Zebra Applied sciences. “This new benchmark highlights the necessary function that real-time stock visibility, front-line employee enablement, and fulfilment flexibility play in driving Unified Commerce, and we’ve the precise options to ship these advantages.”
“With the intention to ship on the promise of Unified Commerce, retailers should join digital and in-person experiences, and all the knowledge and techniques that allow them,” stated Carrie Tharp, VP of Retail and Shopper at Google Cloud. “Manhattan Associates’ partnership with Google Cloud on this benchmark reveals how retailers could make it straightforward for patrons and retailer associates to search out the precise merchandise on-line and instore by implementing a unified commerce technique backed by knowledge and AI.”
Giri Agarwal, Chief Technique Officer at Incisiv commented: “Unified Commerce is the brand new battleground for retailers to distinguish themselves. Our 2023 Unified Commerce Benchmark reveals that leaders who’ve adopted unified commerce ship extremely nuanced, seamless buyer experiences throughout channels, leveraging expertise and knowledge to drive income development. The insights from this benchmark will not simply assist retailers sustain, it would assist them stand out.”
Click on HERE to view the whole 2023 Unified Commerce Benchmark for Specialty Retail.
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ENDS
METHODOLOGY:
Incisiv’s 2023 Unified Commerce Benchmark for Specialty Retail is the business’s first Unified Commerce benchmark with actual purchases, actual returns, and actual buyer journeys throughout digital and bodily channels.
The Benchmark contains of analysis from 124 retailers benchmarked throughout 11 specialty retail segments selecting a mixture of high omnichannel retailers by income, and high Digital Native Vertical Manufacturers (DNVBs) by retailer rely, spanning 286 buyer expertise capabilities throughout 4 practical areas: Search & Discovery, Cart & Checkout, Promising & Fulfilment, & Service & Help
Incisiv’s staff of buyer expertise analysts performed complete buying journeys, together with 8 actual purchases and returns with every retailer studied, throughout each bodily and ecommerce channels. Assessed retailers have been then scored primarily based on the adoption of buyer expertise capabilities, the efficacy of every functionality, and the consistency and high quality of expertise.
ABOUT MANHATTAN ASSOCIATES:
Manhattan Associates is a expertise chief in provide chain and omnichannel commerce. We unite info throughout the enterprise, converging front-end gross sales with back-end provide chain execution. Our software program, platform expertise and unmatched expertise assist drive each top-line development and bottom-line profitability for our clients.
Manhattan Associates designs, builds and delivers vanguard cloud options in order that throughout the shop, by means of your community or out of your achievement heart, you’re able to reap the rewards of the omnichannel market. For extra info, please go to www.manh.com
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