Shifting priorities are reshaping digital commerce investment, indicates a Forrester study. Key findings from the study indicate that digital commerce is front and centre for both B2B and B2C buyers. Customers will pay for a better experience, but businesses are struggling to provide essential must-haves. Almost 80% of customers abandon their purchases due to difficult online experiences. So, in response, businesses are looking to increase investments in core digital commerce technologies to create great experiences.
Digital channels for consumers and businesses have been maturing for more than two decades, but the COVID-19 pandemic has pushed digital from a supporting function to a primary touchpoint for many. These touchpoints are a lifeline for consumers, business people and even students as social distancing has forced a dramatic change in behaviours.
Explaining why shifting priorities are reshaping digital commerce investment, the Forrester study states that “Never since the dot-com boom has digital commerce been so front and centre. Whether your business is in survival, adaptive or growth mode, now is a critical time to reallocate funding to deliver enhanced digital experiences and set your business up to be more competitive as the world shifts to a new normal post-pandemic.”