ChannelAdvisor has released the holiday results of its Multichannel E-Commerce Study, which surveyed more than 200 online retailers in the U.S. and U.K. that averaged $3 million to $5 million in revenue in 2013. The holiday portion of the study was intended to identify retailers’ expectations for the 2014 holiday season and the strategies they’re using to maximize their holiday sales.
While this may not come as a surprise, 86% of surveyed retailers expect to increase their year-over-year online holiday sales in 2014.
Here are four key findings from ChannelAdvisor’s Multichannel E-Commerce Study:
Retailers expect a successful holiday season
More than a quarter of surveyed retailers (27%) expect an 11 to 15% increase in holiday sales this year compared with 2013, and nearly half (46%) expect an increase between 1 and 10%. No retailers reported an expected decrease in holiday sales this year.
Holiday promotions are starting early
Nearly half of surveyed retailers (42%) planned to begin their holiday push in September, and 20% planned to begin their holiday push in August or sooner. Almost a quarter (23%) of retailers planned to start their holiday marketing push earlier this year compared with previous years.
Customer service features are important for driving sales
Almost half of the retailers surveyed (41%) plan to offer free shipping and returns as a strategy to increase holiday sales this year. One-third of retailers surveyed plan to stock more quantity. Retailers named free shipping as the most successful service feature for generating a higher level of customer satisfaction. Most retailers (67%) said they have seen increased sales from offering these customer service features.
Retailers are embracing trends, including digital marketing
More than a quarter of surveyed retailers (27%) plan to increase their overall digital marketing and advertising budgets as a strategy to increase holiday sales this year. A quarter of surveyed retailers plan to launch new digital marketing initiatives to increase holiday sales this year. Offering discounts for select products was a strategy that 27% of surveyed retailers said they would use to increase holiday sales in 2014.