In Q1 2021, we surveyed 140 model producer decision-makers throughout the globe who’re accustomed to their firm’s strategy to digital gross sales. Performed in partnership with Vorys eControl, we wished to know the digital commerce approaches of brand name producers. Key areas that we explored included digital gross sales through on-line marketplaces, direct-to-consumer (DTC) websites, and wholesale dot-com websites.
Model producers can use the outcomes of Forrester’s Q1 2021 World State Of Model Producers Survey to benchmark their efficiency and internally make the case for investments in digital gross sales methods. Some key highlights of the survey included:
- In 2020, model producers noticed digital gross sales develop quicker than general firm gross sales.
- For these firms, digital gross sales grew a median of 49% 12 months over 12 months (YOY), in comparison with 15% YOY progress for general gross sales.
- Marketplaces are massive and fast-growing however are additionally difficult to handle.
- On-line marketplaces symbolize the biggest common share of digital gross sales throughout model producers we surveyed, adopted by wholesale dot-com and DTC gross sales.
- Model producers cited issues with marketplaces together with gray-market sellers, counterfeits, and channel battle with different accounts or distributors.
- Model producers use governance applications and e-control measures to resolve pricing and distribution points.
- Most model producers use a mixture of pricing/marketed worth insurance policies and distribution insurance policies to resolve pricing and distribution points.
- Over one-third of brand name producers at the moment have an e-control program. Those who do have e-control applications in place report that their influence consists of fewer on-line gray-market sellers and gross sales, extra constant pricing, and higher revenue.
To see these ends in extra element, please see our report, “How Brand Manufacturers Can Manage Messy Online Marketplaces,” and take heed to our Retail Lens webinar on this matter. And please schedule an inquiry with me to debate our findings and easy methods to apply them to your organization.