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Study: Businesses expending time, cash for ecommerce
The time it takes a business to get a strong ecommerce system up and running is getting longer. That's the takeaway from new CloudCraze data. Researchers surveyed more than 300 marketing and IT pros and found about one-third (30%) of B2B and B2C brands spend upwards of $2 million for their current site, and nearly half (44%) say it took at least a year to develop.
For Legacy systems more than half (53%) reported implementation took over a year. Researchers also found that more than half believe the ecommerce system they are using helps them to be more profitable.
"We are in a new era of commerce, where the speed and cost benefits of a SaaS commerce platform are abundantly clear," said Ray Grady, executive vice president of CloudCraze. "As digital commerce gains traction and becomes the most common touchpoint for both consumers and business buyers, brands that work with legacy commerce platforms experience tremendous challenges that negatively impact profitability and customer service."
Other interesting findings from the report include:
• 49% report updating existing systems is the biggest challenge
• 45% say scaling according to market needs is their biggest challenge
• 40% report having a holistic customer vie is the biggest challenge
The research also shows that customers continue to adopt online shopping options quickly. The study found about half of those brands using cloud based systems are seeing at least half their sales happening online.
Image via Shutterstock
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