Newsletter No 9
What sets apart an effective e-commerce digital leader from a less competent one? We discuss the most effective tools for efficiency and and technology cost management.
Signs your e-commerce tech stack is managed well
What sets apart an effective e-commerce digital leader from a less competent one?
In our practice, it’s the ability to ensure that the whole management team and boardroom recognise technology and data as critical assets, which open up new revenue streams and improve the lives of customers and employees.
Sounds hard, right?
However, from the recent interview with Dick de Leeuw, the e-commerce director at MR MARVIS, we learned that persuasion is not as daunting when you do the following:
Visualise the tech and tool stack on a chart and monitor the performance of each system;
Measure the total cost of ownership (TCO) of your tech stack and plan the budget carefully;
(Over)communicate the challenges, milestones, and achievements to your stakeholders and team;
Bring talent into your team and design a learning environment;
Do diligent user research both on online and offline channels.
In this edition, we’re sharing with you how to incorporate these practices into your workflow.
The 6 areas to consider when calculating your technology budget
E-commerce technology budget planning often comes with a grain of stress. What if the allocated funds will run out too soon? What if the expenses needed will soar unexpectedly?
To avoid stress and surprises, avoid wishful thinking. E-commerce technology costs go beyond mere implementation and licenses. The total estimate should also incorporate support and monitoring costs, training, security, downtime, and many more.
To master e-commerce technology cost management, watch the recording of our recent webinar “Getting a grip on technology expenses” or read the key takeaways article.
Brand Radar: Belgium 🇧🇪 edition
Exploring with Brand Radar, we now venture into the land known for chocolate, beer, and luxury heritage - Belgium 🇧🇪. What does the e-commerce landscape look like there today? To enrich the analysis with local insight, we partnered up with dear digital.
Our ranking database compiles the most prominent Belgian consumer & retail brands and compares them in terms of digital experience. The research also includes:
📌 Traffic volume
📌 Number of physical stores
📌 Page speed score
📌 Instagram followers
📌 Headcount
Highlight → Traffic drops in volume and shoots up in price
As per Contentsquare's recent benchmark report, the retail industry witnessed a -5.0% decrease in traffic in 2023. Conversely, the consumer packaged goods sector experienced a +3.5% increase in traffic, yet engagement metrics like pages viewed and time spent declined by -7.3%. Additionally, both retail and consumer packaged goods saw a +5.0% surge in traffic share towards paid channels.
It all correlates with the reportedly rising customer frustration, mostly exemplified by slow loading, rage clicks, or Javascript.
Tools & Tactics
We select helpful tools and useful new ways of working. Find a signal in the noise of software.
01 Vendr
Vendr is a free app that helps choose technology vendors and provides a comprehensive solution for purchasing and managing software costs.
02 Aiden
Aiden provides a product finder feature for e-commerce shops, and promises to “automatically give customers the best advice and increase conversion rates by 2,5x.”
03 Juni
Juni is a finance management tool for businesses in digital commerce that provides intelligence to manage and ease cash flow and make smarter decisions much faster.
Trends & Strategy
Curated content from the information overload we call the Internet.
Insights and inspiration on business, e-commerce and investing.
2024 Gartner CIO Agenda
25 min read
“91% of Retail IT leaders are prioritizing AI as the top technology to implement by 2026. The 2024 CIO Agenda breaks down the top technology investments and objectives for Retail leaders, accoding to 2,400+ CIOs and technology executives across 84 countries.”
Full article
Contentsquare’s Digital Experience Benchmarks for 2024
20 min read
“Overall, visitors engaged with less on-site content than in the previous year, with session consumption falling -3% YoY, and 58% of sites seeing a drop in consumption.”
Full article
Amazon lobbyists banned from European Parliament
10 min read
“This is only the second time in the history of the European Parliament that lobbyists from a company have been denied access, following the controversial agricultural biotechnology firm Monsanto in 2017.”
Full article
Visually appealing
Designer Adi Goodrich designed the interiors for Wine and Eggs, a local grocery in Atwater Village, Los Angeles. The space features custom furniture and intricate details inspired by the charm of Parisian cafes and Italian tobacconists.
