[Forrester Report] Brands: Gauge The Size Of Your Digital Commerce Prize
Consumer-facing brands need digital commerce, but their opportunities aren’t equal. Some brands’ digital commerce strategy will prioritize direct-to-consumer sales across their own digital touchpoints; others will focus on building joint business partnerships with retailers to drive indirect digital sales. However, geographic region and branded product type will change the relevance and projected sales volumes and margins of each digital commerce touchpoint. This report describes how brand leaders can identify their brand product type and understand regional differences in the digital commerce landscape to identify their global digital commerce opportunity.
To Analyze The Opportunity, Brands Must First Evaluate The Regional Commerce Landscape
To gauge the opportunity at stake, brands must factor in regional context to any global digital commerce strategy. Markets around the world vary significantly due to multiple factors, including the relative maturity of e-commerce, the proportion of consumers who regularly shop online and device adoption.
Not One-Size-Fits-All: Brand Type Heavily Dictates The Digital Commerce Opportunity
Forrester identifies four branded product types, which factor in how commoditized the product is and how frequently customers purchase it. Factors like product category and a brand’s dependence on existing retail partner sales relationships also impact the relevance of different digital commerce tactics.
Most Importantly, It’s Not All About Sales
Consumer insights, ongoing consumer engagement, and a platform for product testing and innovation are among the additional benefits that brands must factor in as they analyze what their digital investments will yield.