The retail industry is coming out of a tumultuous 18-months. Online brands have seen major changes in shopping habits, consumer appetite, supply chain reliability and international customs arrangements thanks to Brexit and the COVID-19 crisis.
For online brands, the events of the past 18-months have seen many undergo dramatic and disruptive digital transformations. Their D2C approach has been reshaped and sales strategies shifted to react to changing consumer behaviour.
With such a shift in the retail industry, Rithum wanted to explore how brands experienced the effects of COVID-19 and Brexit. Along with how their approach to, and investment in, D2C has changed. Working with CensusWide, more than 300 Chief Marketing Officers at UK brands selling online were interviewed.
The results show an intense period of upheaval and a shift across the board of consumers turning to e-commerce. Key findings include:
- 68% of brand CMOs said Brexit has caused a drop in overall international sales.
- 92% of brand CMOs say their brand has attracted a significant number of new customers since the start of the COVID-19 crisis.
- 47% said that over the next 12 months, D2C channels would give them more control of how their brand is generally portrayed online.
- 92% expect it to become even easier for their brand to attract and retain online shoppers across the next 12 months.
The impact on e-commerce has received little attention previously. In our CMO report we delve into the confidence and optimism of brands, along with the digital transformation in this area of retail. Packed full of insights from UK brands it’s a glimpse into the future of retail in the UK.
Download the full report here >>>