Temporarily, respondents said they would be “leaving” or reducing the use of nearly every single retail channel, except mass retail stores. The majority of respondents were leaving pop-up shops, shop-in-shops, permanent brand stores, as well as “retail-as-a-service’ platforms.
Visibility is a real problem for execs across media and marketing. It’s unclear how long this crisis will last, and the feeling in the first few weeks that this would be as simple as flicking a switch back on once things go “back to normal” has largely dissipated.
For the vast majority of respondents, optimizing e-commerce channels is the most important step. As more and more people move to shopping online, retailers of all types are trying to make sure their e-commerce and delivery channels are optimized -- as wine seller Winc’s co-founder Brian Smith said during a Modern Retail Plus talk last week, this is an opportunity to “meet customers where they are” -- aka, at home, on their phones.
Retail media is growing in importance. The idea of retailers turning their websites into media platforms isn’t a new one, but over the past few years, has commanded more interest and more attention from brands. For brands specifically, advertising on retail media isn’t an ad problem anymore -- it’s a business problem.
Modern Retail surveyed 206 brands and retailers to ask what is working, and what isn't working for them on Amazon.
Retailers and brands have a lot to gripe about when it comes to Amazon. The e-commerce juggernaut has become in many ways a frenemy for brands.
One thing is true for nearly all conversions on Amazon: They’re captured by products on page one of the search results. And a significant share of purchases go to just the top few results.
Recognizing the companies and campaigns modernizing retail in the digital age.Submit Now