Survey findings show low overall satisfaction with eCommerce platforms as many struggle to adapt to complexities of modern business
TORONTO, February 28, 2023 – Pivotree Inc. (TSXV: PVT) (“Pivotree” or the “Company”), a leading provider of frictionless commerce solutions and services, today released its Digital Commerce in an Era of Rapid Change Trend Report, from a joint survey conducted with Canam Research and Pivotree’s Gold Partner SAP, showcasing trends in Digital Commerce, Data Management and Supply Chain among retailers.
The report’s findings suggest that businesses require more from their current eCommerce platforms as challenges with eCommerce become more and more complex. Some key findings include:
- Just over half of respondents (56%) are satisfied with their eCommerce platforms, and, of this 56%, only 20% are net-promoters, with the other 36% being passive;
- Only 39% of survey respondents said their commerce strategy and tactics are definitely keeping pace with changes in customer behavior, while 45% are neutral or unsure.
- The biggest commerce challenges identified were analytics and reporting (33%), shopper experience (30%), and inventory management (28%);
- Less than half (41%) of respondents believe their current systems effectively manage product data.
“The findings from the report suggest there is lots of opportunity for commerce platforms to better serve their customers and help them deliver frictionless commerce to their end users,” says Pivotree CEO, Bill Di Nardo. “The market pressures on retailers, distributors and manufacturers are immense, and technology partners must find revolutionary ways to implement, deliver and fund ecommerce projects to digitally transform business operations quickly and efficiently.”
“Commerce platforms need to work for businesses and not the other way around. They need to provide solutions for today’s challenges, and set them up for success and ongoing transformation,” said Jae Lee, Head of SAP Commerce Americas. “Customers’ expectations for efficiency and personalized experiences have drastically changed, and will continue to evolve at a rapid pace, so it’s essential for commerce platforms to have the agility to respond to these changing needs at speed, and support businesses in meeting them across all channels.”
The companies surveyed represent a wide variety of business types including B2B, B2C, B2B2C
and D2C, and, as such, the responses indicate a wide variation in the eCommerce platforms being used.
Supply Chain was a key area of focus in the survey, as companies struggle to upgrade their technology to keep pace with changes brought on by supply chain disruptions. Sixty-five per cent of respondents stated that escalating costs are their biggest supply chain problem, as disruptions have caused shipping costs to rise and negatively impacted the availability of products; all of which have led to higher costs in general and difficulty keeping up with demand.
Recently, Pivotree launched three offerings to address these challenges facing businesses today. Commerce-as-a-Service (CaaS) offers pre-composed service packages which remove the barriers to entry for any organization looking to digitally transform its commerce business. Data-as-a-Service (DaaS) tackles burgeoning technical debt while enabling clients to add products at scale, increase speed-to-market and improve data-driven insights. The latest release of Pivotree WMS (Warehouse Management System) addresses the importance of integrated solutions for complete transparency and control of omnichannel fulfillment, increasing operational efficiency, reducing cost and responding to demand with future ready, frictionless fulfillment.
Pivotree’s team of experts are available to guide and help retailers grow their business with end-to-end frictionless customer experiences at every stage of the buying journey.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Pivotree, a leader in frictionless commerce, designs, builds and manages digital platforms in Commerce, Data Management, and Supply Chain for over 250 major retail and branded manufacturers globally. Pivotree’s portfolio of digital solutions, managed and professional services help provide retailers with true end-to-end solutions to manage complex digital commerce platforms, along with ongoing support from strategic planning through platform selection, deployment, and hosting, to data and supply chain management. Headquartered in Toronto, Canada with offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader. For more information, visit www.pivotree.com
For further information, please contact:
Sarah Kirk-Douglas, Vice President of Marketing, Pivotree
Dennis Fong, Investor Relations, Pivotree