10 Takeaways from the 2020 RSR Report with Perspectives from Ralph Lauren
According to the annual report recently released by Retail Systems Research (RSR), the current state of retail has been launched into a digital-first state. Joined in a webinar by Ralph Lauren and Yottaa, RSR explores the report’s findings and consumer perspectives on shopping this year. The session also covers best practices for brands to maximize online conversions during the 2020 holiday rush, and Ralph Lauren’s perspective on site performance optimization and plans for the future.
Below are the key takeaways to consider while preparing for the 2020 holiday season and beyond:
How does your site measure up to the brands ranked in the 2020 RSR Report? Find out with a Free Site Performance Snapshot.
1. The RSR Report Reveals the Stakes for Digital Performance Have Become Higher
Retailers’ digital experience is now more important than ever. Through the past 3 years, brands have been slowly increasing site speed and performance — but is it too little too late? Learn how 2020 compares to years past and how you can use history to guide you through the upcoming season.
2. RSR Report’s Top brands of 2020
Ralph Lauren leads the pack in terms of site performance and shopper experience, and has continued to stay strong throughout the pandemic. It’s clear they have a great understanding of how critical the digital focus should be in a time when retailers don’t know what to expect.
Learn who came in close behind, as well as the fastest ranked sites in the industry.
3. What do shoppers think?
For the second year in a row, RSR interviewed 1,100 US-based consumers to learn how they feel retailers are performing digitally. This year’s results are not far off from last year, but so much more important: shoppers need a fast, smooth online purchasing experience in a time when in-person shopping is no longer safe. Learn what else they had to say in the snippet below.
4. What brands are doing well
The good news is that there are some things brands are doing well despite the circumstances. For example, mobile performance continues to improve, sites are (slowly) getting faster, and pandemic communications/messaging has been well executed. Learn where else brands are exceeding below:
5. Why do shoppers abandon mobile transactions?
How are consumers shopping on mobile? What exactly do they need to complete the purchase? According to RSR, shoppers need to feel secure, experience a smooth transaction, and the mobile experience needs to be fast. Learn what else may deter shoppers from completing mobile transactions in the video below.
6. A real wake up call
It’s time to have the conversation on how to improve your site’s performance. Shoppers are not going to hang around while you figure it out. Between optimizing your site for 3rd parties, decreasing security threats, and lowering the chance of losing your shoppers to Amazon, retailers need to take this wake up call seriously. Learn what else to focus on in the video below:
7. Shoppers are frustrated
It’s no secret that shoppers become frustrated with slow performing sites. In fact, only 9% of shoppers report this as not being an issue, with 52% citing it as a major sore spot. With all we’ve seen so far about the massive shift to shopping online currently taking place around the globe, this is no time for retailers to be slow.
8. Don’t be a dinosaur
The massive shift to online shopping due to the COVID-19 crisis shone a bright spotlight on why brands should have focused on improving site performance a lot earlier. Many are currently struggling to catch up and no one wants to be one of the brands that will become extinct.
9. How to improve shopper experience and site performance
In today’s world, it’s important to balance a great shopper experience with exceptional site performance. Making performance a priority, continuing to add optimized functionality, leveraging scalable, automated technology, and detecting issues with 3rd parties in real-time, are just a few examples. Watch the video snippet below to learn more.
10. Perspective from Ralph Lauren
Sadiki Christie, Senior Director of eCommerce and Order Management for Ralph Lauren talks about how their Mobile Optimization Journey and UX Areas of focus helped them secure first place in this year’s RSR Report. Watch the video snippet below to learn more about how they are preparing for the future ahead.