Online brands are optimistic about attracting customers and increasing revenue in the next 12 months.
According to a survey by research firm CensusWide and ecommerce platform ChannelAdvisor, brands are confident about their revenue and customer growth in the coming months. Nearly 91% of CMOs at UK brands selling online expect their revenues to grow in the coming 12 months.
The survey revealed that 80% of brands have boosted their digital marketing spend from pre-Covid levels. An overwhelming number (91%) of them expect their digital ad spend to increase further in the next 12 months. Similarly, 92% of the respondents feel attracting and retaining customers will become easier.
The survey also noted pandemic-induced shifts in consumer behaviour. For instance, 31% of respondents said that consumers shopped online more frequently than they did before the pandemic. Around 29% of the CMOs said they had noticed an uptick of customers from the older demographics.
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