Retailers Increase Digital Marketing Spend by 59%: New Insights from Strategy Insights Report
In May 2023, Digital Commerce 360 conducted a comprehensive survey to gain valuable insights into the digital marketing strategies employed by online retail marketers. The survey encompassed 97 participants from diverse merchandising categories, such as apparel/accessories, health/beauty, and hardware, among others. Retailers of various scales, ranging from small businesses with annual revenue less than $1 million to companies generating over $100 million in annual revenue, were included in the study.
The focal point of the survey was the assessment of digital marketing budgets, tactics utilized, their effectiveness, and emerging strategies. The findings revealed that a significant 59% of retailers chose to increase their digital marketing spend, reflecting the growing importance and impact of online marketing strategies in today’s competitive landscape.
The survey results are featured in the Digital Commerce 360 July 2023 Strategy Insights report, which offers in-depth analysis and valuable data related to marketing trends. Readers interested in exploring more marketing-related stories can download the full report.
The Strategy Insights report in the July edition of Digital Commerce 360 presents the findings from the 9th annual Digital Marketing Survey. This survey encompassed online marketers from both small and large retailers, providing a comprehensive overview of the current state of digital marketing strategies in the industry. With valuable insights like the substantial increase in digital marketing spending by retailers, the report sheds light on the ever-evolving landscape of online marketing.
Industry professionals and marketers can leverage the data and insights from the report to refine their digital marketing strategies, stay ahead of the competition, and drive growth in their businesses.
