Nogin Survey Reveals D2C Brands’ Goals to Uplevel Their Enterprise Ecommerce Platforms
January 18 2023 - 9:00AM
Nogin (NASDAQ: NOGN), a leading
provider of innovative enterprise-class ecommerce technology that
embraces and extends the capabilities of Shopify Plus, today
announced the results of a survey of D2C (direct-to-consumer) brand
manufacturing leaders, revealing how D2C brands rate their existing
technology stacks, what challenges they face in executing D2C
commerce with their current tools, and what capabilities they’d
like to see in the future. Administered by WBR Insights, the survey
found that brand manufacturers are seeking to enhance their current
platforms, and are actively exploring better solutions to
future-proof their businesses and create next-generation ecommerce
environments.
The survey polled 100 leaders representing consumer product
brand manufacturers that have existing ecommerce channels or are
planning to develop them. As consumer brands continue to adopt D2C
ecommerce to drive revenue directly from customers, and as many
companies struggle to maintain growth and compete with ecommerce
giants and other competitors, brand manufacturing leaders are
putting increased scrutiny on the technology stacks that power
their digital storefronts.
Brand manufacturers face challenges with their current
enterprise ecommerce platformsOverall, enterprise
ecommerce platforms are critical for brands looking to increase
revenue through D2C sales. However, not every brand has the right
platform to effectively streamline their operations and improve
their customer experience. In fact, many organizations feel that
their tools could be improved. Only 27% of respondents said they
were very satisfied with their current technology stacks, naming
their top challenges as system integration, personalization and
content management.
Brands are moving toward intelligent commerce—but
technology gaps are still holding them backIntelligent
ecommerce capabilities leverage automation and personalization to
help D2C businesses achieve an essential objective—understanding
and predicting customer behavior. However, while 59% of respondents
categorized their ecommerce technology as “intelligent”—including
one or more AI-driven capabilities that use algorithms to
self-learn and act—many also noted significant capability gaps in
their technology stacks. 31% say their current ecommerce technology
is ineffective at increasing customer lifetime value, and 35% say
their technology is ineffective at increasing customer
conversations with predictive analytics.
Most brand manufacturers are ready for a new enterprise
ecommerce platformOn average, survey respondents each use
about 9 different ecommerce technologies to support their D2C
programs. This patchwork often leads to integration and data
sharing issues, and still may not address important technology
needs like return rate optimization, complex order management and
product inventory monitoring. So, it’s no surprise that 76% of
respondents say they plan to adopt a new enterprise ecommerce
platform in the future. In particular, 71% stated they are
interested in a turnkey enterprise ecommerce platform that handles
the entire customer lifecycle, has no extra fees, has no required
upgrades and provides expert managed services.
“D2C brands today are navigating an increasingly competitive
ecommerce environment. Yet, as companies grow and search for ways
to increase profitability, many find themselves trapped in a cycle
of constant upgrades, integrations and custom R&D, unable to
compete with industry giants,” said Geoffrey Van Haeren, Co-Founder
and Chief Technologist at Nogin. “To come out on top and build an
ecommerce business with true staying power, brand manufacturers
need a comprehensive, intelligent ecommerce platform—one that not
only restarts growth through enterprise-level features like
personalization, microtargeting and marketing automation, but
delivers on consumers’ rising expectations and lays the foundation
for scalable profitability.”
To see the full results of Nogin’s survey of brand manufacturing
leaders, please visit https://www.nogin.com/wbr-report/. The WBR
Insights research team surveyed 100 respondents from across the
U.S. and Canada to generate the results featured in this report.
All the respondents represent consumer product brand manufacturers
that have existing ecommerce channels or are planning to develop
them. Most of the respondents (52%) represent companies that
generate at least $50 million in annual ecommerce revenue.
About NoginNogin (Nasdaq: NOGN, NOGNW), the
Intelligent Commerce company, provides the world’s leading
enterprise-class ecommerce technology platform for brand leaders
that need to deliver superior growth with predictable costs and an
exceptional online experience. The Nogin Commerce Platform is a
cloud-based ecommerce environment purpose-built for brands selling
direct-to-consumer (D2C) and through online channel partners. Nogin
frees its customers to focus on their brands while running as much
or as little of the infrastructure as they choose. Founded in 2010,
Nogin optimizes the entire ecommerce lifecycle for D2C brands such
as bebe, Brookstone, Hurley, and Kenneth Cole, achieving average
growth of more than 40% in annual gross merchandise value (GMV) in
the first year. To learn more, visit www.nogin.com or follow us
on LinkedIn and on Twitter at @Nogincommerce.
Contacts:Media Contact:BOCA
Communications for Noginnogin@bocacommunications.com
Nogin Investor Relations Contact:Cody Slach and
Tom ColtonGateway Investor
Relations949-574-3860nogin@gatewayir.com
Nogin (NASDAQ:NOGNW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nogin (NASDAQ:NOGNW)
Historical Stock Chart
From Jul 2023 to Jul 2024