News

Cross-channel challenges costing retailers, suppliers big bucks

April 28, 2017

Challenges in managing cross-channel commerce on a global landscape is costing retailers and suppliers big losses — to the tune of at least $1 million in revenue, according to a 1WorldSync study.

The report reveals 53 percent of merchants and suppliers acknowledge a knowledge gap in the organization when it comes to understanding the value of cross-channel. The research noted that 45 percent have lost more than $1 million in revenue and more than one in 10 have lost more than $3 million.

"In the dynamic world of digital commerce, merchants and suppliers are facing significant issues capitalizing on the opportunities within different channels and geographies. As the space has evolved, there are more regulations to comply with, more channels to be present on and more partners to trade with than ever before," Nihat Arkan, CEO of 1WorldSync, said in a release on the report. "Before both sides of the retail equation can truly master omnichannel commerce, they have to ensure their digital investments address their current challenges."