It has been discovered that 40% of publishers intend to test the water with eCommerce as a way of diversifying revenue and leveraging established audience relationships in 2017. This was one of the findings of the Fiare-sponsored ‘State of the Media 2017’ report, conducted by the Media Briefing.
The expanding eCommerce ecosystem is a still relatively small, though fast-growing, revenue stream for publishers. It is anticipated that revenue from eCommerce will comprise nearly 15% of total retail sales by 2020 – double the percentage of 2016 (7.4%). Furthermore, 70% of the media executives surveyed claimed that eCommerce mattered to them or their business.
However, this sector poses challenges. The report revealed that although most publishers are considering eCommerce as part of their operations, it is viewed as a difficult new venture to implement (third-hardest after an effective data strategy and paywalls). However, this isn’t preventing publishers from proactively developing shoppable websites and developing content to support and inform sales.
As marketplace specialists who have amassed a wealth of experience and expertise in various sectors within international markets, we serve as business consultants to help you develop a strategy regarding eCommerce and online marketplaces. Contact Fiare today to see what we can do for your business.
The full State of the Media 2017 report is available to download here.