{"id":2405,"date":"2016-05-19T11:00:00","date_gmt":"2016-05-19T11:00:00","guid":{"rendered":"https:\/\/brightpearl20.wpengine.com\/insights-from-wholetailers-on-their-journey-to-success\/"},"modified":"2024-12-05T19:16:46","modified_gmt":"2024-12-05T19:16:46","slug":"insights-from-wholetailers-on-their-journey-to-success","status":"publish","type":"post","link":"https:\/\/www.brightpearl.com\/blog\/insights-from-wholetailers-on-their-journey-to-success","title":{"rendered":"Insights from wholetailers on their journey to success"},"content":{"rendered":"

Who doesn\u2019t love industry insight? We reached out to our customers to get their first-hand experience of the commerce world. With over 200 responses from rapidly expanding wholetailers (retailers and wholesalers!) we gleamed 4 helpful insights for retail success.<\/p>\n

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This blog shares insight into three key areas impacting the growth of independent retailers and wholesalers; multichannel, sales channels and technology.<\/p>\n

Multichannel<\/strong> has become increasingly important to the commerce industry, but does multichannel selling increase sales?<\/p>\n

If selling on multiple sales channels<\/strong> is the key to success, how many channels should you sell on and which sales channels are the most popular?<\/p>\n

Technology<\/strong> is also at the forefront of the commerce industry but does it help to accelerate growth?<\/p>\n

We wanted to get the answers to these big questions! Check out what we found…<\/p>\n

Multichannel leads to bigger business growth<\/h2>\n

The majority of shoppers are constantly switching between devices in their day-to-day life and it\u2019s the same scenario in retail. Consumers are searching for products online, looking at items in store, researching the best prices on their smartphones.<\/p>\n

This has led to an increasing number of shoppers channel-hopping before buying. According to CommerceHub<\/a>, 86% of global shoppers use 2 channels and 65% of shoppers research online and buy offline.<\/p>\n

Due to this nature, a multichannel retail strategy is increasingly important but how does selling on multiple sales channels affect commerce growth?<\/p>\n

The survey revealed that multichannel retailers see bigger growth as our customers who sell on a single channel see a 8% growth rate and those who sell across multiple channels grow at a rate of 33%.<\/p>\n

With an average YoY increase of 2.4% in the U.S. retail sales industry<\/a>, our customers are growing faster than the industry average!\u00a0<\/span><\/p>\n

Sales channel insight<\/h2>\n

So we\u2019ve established that retailers who sell on multiple channels have a higher rate of growth but which channels are the most popular?<\/p>\n

According to the survey results, the average retailer sells on 4 sales channels with the most popular channels being their own website, the Amazon<\/a> and eBay marketplaces and a brick-and-mortar store.<\/p>\n

Interestingly, trade shows and phone sales are still popular channels and selling through social platforms is on the rise.<\/p>\n

Top 3 channels:<\/strong><\/p>\n