With Black Friday and Cyber Monday just around the corner, digital commerce is a key focus for organizations looking to improve customer experience and increase sales. From Amazon Alexa to Snapchat, technology advancement is changing customer expectations of the shopping experience, significantly impacting marketing and digital commerce. The Gartner CMO Spend Survey 2019-2020 revealed that CMOs place digital commerce in the top three strategically vital capabilities, allocating 9.2% of their marketing budget to digital commerce, up from 8.1% in 2017.
“Marketing’s digital commerce priority aligns to CEOs’ goals,” says Jennifer Polk, VP Analyst, Gartner. “In the 2018 Gartner CEO and Senior Business Executive Survey, 62% of respondents reported that they have a management initiative or transformation program to make their business more digital. Facilitating digital commerce transactions with the right tools and capabilities is central to organizations’ success.”
Digital commerce also fuels two marketing imperatives: Expanding brand presence into channels where customers are and nurturing more transactions through a better customer experience. Marketing leaders driving these imperatives should stay on top of these six digital commerce trends: