79 Percent of Retailers Are Bullish on Sales Growth, According to Latest Research Report
MINNEAPOLIS, Nov. 6, 2013 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (Nasdaq:SPSC), a leader in enterprise retail cloud services, today unveiled the second annual Retail Insights industry benchmark report. Conducting market analysis on behalf of SPS Commerce, Retail Systems Research (RSR) surveyed hundreds of retail practitioners in August 2013. The Retail Insight: The Impact of Omni-Channel Trends for 2014 and Beyond report quantifies the state of the retail industry, identifies investment priorities for 2014 and outlines the execution of omni-channel strategies to reach today's social and mobile consumer.
"The new digital consumer is placing more demands on retailers than ever before — a seamless purchasing experience across all supply chain channels," stated Peter Zaballos, vice president of marketing at SPS Commerce. "Rising consumer expectations are driving the retail ecosystem to be more nimble, social and flexible in selling strategies and operations. This year's Retail Insight research clearly shows retail is rebounding, but the consumer is outpacing the industry's ability to change."
The Retail Insight benchmark study revealed the following about the retail industry:
- 79 percent of retailers expect sales growth to be much better or somewhat better in 2014, yet 94 percent have not fully executed an omni-channel strategy;
- 82 percent agree that product availability, pricing and social media channels trigger digital consumer purchases;
- 57 percent expect drop ship sales to grow 11-50 percent in 2014, with retailers viewing drop ship as something that trusted partners graduate to in their partnership; and
- 46 percent of retailers are increasing budgets, recognizing there is headroom for growth.
"The move toward omni-channel represents a 'reset moment' for the retail industry," said Paula Rosenblum, managing partner at RSR. "Every type of player in the ecosystem expresses growing optimism about the economy, along with stable or growing budgets. However, they also report that rising consumer expectations remain relentless, particularly around omni-channel fulfillment."
The complimentary Retail Insight: The Impact of Omni-Channel Trends for 2014 and Beyond report is available for download from SPS Commerce.
About SPS Commerce
SPS Commerce perfects the power of your trading partner relationships with the industry's most broadly adopted, enterprise retail cloud services platform. As a leader in on-demand supply chain management solutions, we provide prewired, proven integrations and comprehensive retail performance analytics to thousands of customers worldwide. With a singular focus on the retail marketplace, we revolutionized traditional EDI systems by developing a platform that enables highly cost-effective and reliable trading partner collaboration. SPS Commerce has achieved 51 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, please contact SPS Commerce at 866-245-8100 or visit www.spscommerce.com.
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