Yottaa, Inc., the leading cloud platform for accelerating eCommerce, today announced the publication of an addendum to its recently published research report titled, “2020 eCommerce Leaders Survey: Site Performance & Innovation Trends.” The addendum report includes responses from eCommerce leaders on how their brands and online strategies have been impacted by the coronavirus crisis.
The objective of the original eCommerce Leaders research was to gather data from online retail executives to identify their key eCommerce initiatives for 2020, particularly in the area of website performance and site optimization. Because of the massive disruptions to retailers due to the coronavirus crisis, Yottaa re-polled the eCommerce leaders to determine how online brands have been affected by the pandemic and how these leaders are shifting focus in order to adapt to the new reality of commerce.
For the addendum to the 2020 eCommerce Leaders Survey Report, Yottaa interviewed over 90 leaders from a wide range of eCommerce sites. Respondents represented a healthy mix of some of the biggest brands in the industry, as well as small-to-medium size brands. Similar to the original report, the addendum focused on executive titles from the line of business, such as Vice President and Head of eCommerce. The research was collected online during April 9-14, 2020.
Key Findings
- Online Traffic is Growing – 72% of the eCommerce leaders stated their brands have experienced an increase in online traffic during the crisis with food & beverage, home improvement/home goods, and apparel seeing the highest levels of traffic growth.
- Digital or Bust – With most brick and mortar stores closed, 74% of the eCommerce Leaders say they have shifted to a digital strategy. 69% plan to make up lost brick and mortar revenue through their online channels.
- Top 3 Investment Areas – Due to the pandemic, the eCommerce leaders are now focusing on three spend categories: digital marketing promotions, website performance, and buy online/pickup in-store.
- History Is Repeating Itself – While most of the eCommerce Leaders stated they felt confident their websites will be able to handle increased online traffic during the crisis, history suggests otherwise. Every year, retail brands prepare for traffic spikes during the holiday shopping season. And every year, many brands experience slow and inconsistent page loads, crashed sites, and millions of dollars of lost revenue due to poor site performance. Multiple retail brands have already experienced site loading issues due to increased traffic during the pandemic.
Click here to download the addendum report.
Click here to download the original “2020 eCommerce Leaders Survey: Site Performance & Innovation Trends” report.