Manhattan Associates Launches Landmark Unified Commerce Benchmark for Specialty Retail

Rhea-AI Summary

Manhattan Associates (NASDAQ: MANH), in partnership with Google Cloud and Zebra Technologies, released the first Unified Commerce Benchmark for Specialty Retail on March 21, 2023. The benchmark analyzed 124 retailers and found that leading companies achieved up to 6X revenue growth compared to competitors. Challenges identified include personalization (only 38% access to shopper history), real-time inventory visibility (only 29% provided inventory stats), and convenience and flexibility (only 15% allowed post-order changes). The study emphasizes the importance of adopting Unified Commerce for enhanced customer experiences and operational efficiency.

Positive

• Manhattan Associates' partnership with Google Cloud and Zebra Technologies strengthens its market position.
• Leading retailers in the study achieved up to 6X revenue growth.
• Unified Commerce solutions improve customer experiences and enhance decision-making capabilities.

Negative

• Only 38% of retailers provide associates access to shopper history, indicating a lack of personalization.
• Real-time inventory visibility is low, with only 29% giving inventory stats.
• Only 15% of retailers offer flexibility to change fulfillment methods post-order.

Analysis of real purchases and returns, across digital and physical customer journeys finds Unified Commerce leaders outperform competitors by as much as 6X in revenue growth

ATLANTA, March 21, 2023 (GLOBE NEWSWIRE) -- Manhattan Associates Inc. (NASDAQ: MANH), in partnership with Google Cloud and Zebra Technologies, today announced the findings of the industry's first real-world analysis of Unified Commerce in specialty retail. The Unified Commerce Benchmark for Specialty Retail, conducted by Incisiv, assessed 124 retailers across 11 specialty retail segments on the implementation of 286 key attributes of Unified Commerce.

Based on insight from real purchases, returns, and customer journeys across digital and physical channels, the benchmark reveals the common attributes of successful retailers and the opportunities for others to improve their customer value and modernize operations. Of the 124 retailers benchmarked, 15 emerged as leaders. These brands are Academy Sports + Outdoors, American Eagle Outfitters, Belk Inc., Crate & Barrel, Levi’s, Macy’s, MAC Cosmetics, Neiman Marcus, Nordstrom, Pandora, REI Co-op, Saks Fifth Avenue, Sephora, UGG and Zales.

In today’s rapidly evolving ecosystem, retailers need complete visibility on and insight into every aspect of their business, from back-end to customer-facing. Unified Commerce solutions combine a retailer’s front- and back-end systems to establish a single view of the business. That single view informs better decision-making and enhanced customer experiences, while enabling brands to identify and respond to trends quickly, ultimately driving stronger revenue growth by up to 6X. However, consolidating systems and building a cohesive Unified Commerce solution can be quite challenging. The benchmark identified the following common challenges in retailers’ efforts to adopt this new model:

• Personalization - Retailers must be able to identify shopper intent and curate a personalized experience that meets their expectations. However, only 38% of the retailers studied give their store associates access to shopper purchase history and wish lists across all channels. Only 20% of the retailers studied provided personalized product recommendations and offers. As a category, digitally-native vertical brands (DNVBs) outperformed the broader retail cohort in this area, with 42% offering advanced personalization capabilities – 16 points ahead of the overall group examined.
• Real-Time Inventory Visibility – Visibility into allocatable and saleable inventory and rich findability are critical for retailers wanting to provide a seamless omnichannel experience. Only 29% of the retailers studied provide real-time inventory statistics on their product detail pages.
• Convenience and Flexibility - Today, convenience is about more than just speed of delivery. Convenience encompasses providing multiple payment and delivery options and the ability to make changes to an order after the sale. Only 15% of the retailers studied provided the option to change fulfillment method post order confirmation. On an average, only 27% of the retailers provided the ability to return store purchases online.
  

“Shoppers don’t see channels the way retailers do. Unified Commerce can only provide the highly customized shopping experience expected by today’s consumers if there is true visibility of inventory availability, and flexibility during and after the sale,” said Manhattan Associates president and CEO, Eddie Capel. “Embracing a Unified Commerce model can drive strong business growth, high revenue opportunity, lead to competitive advantage and heightened customer loyalty that every retailer covets. With the right technology and solutions, they can outperform their peers by as much as 6X.”

“Zebra Technologies is helping retailers globally optimize their inventory and engage their associates to improve productivity and deliver an elevated customer experience,” said Bill Burns, Chief Executive Officer, Zebra Technologies. “This new benchmark highlights the important role that real-time inventory visibility, front-line worker enablement, and fulfilment flexibility play in driving Unified Commerce, and we have the right solutions to deliver these benefits.”

“In order to deliver on the promise of Unified Commerce, retailers must connect digital and in-person experiences, and all of the data and systems that enable them,” said Carrie Tharp, VP of Retail and Consumer at Google Cloud. “Manhattan Associates’ partnership with Google Cloud on this benchmark shows how retailers can make it easy for customers and store associates to find the right products online and instore by implementing a unified commerce strategy backed by data and AI.”

Giri Agarwal, Chief Strategy Officer at Incisiv commented: “Unified Commerce is the new battleground for retailers to differentiate themselves. Our 2023 Unified Commerce Benchmark shows that leaders who have adopted unified commerce deliver highly nuanced, seamless customer experiences across channels, leveraging technology and data to drive revenue growth. The insights from this benchmark won’t just help retailers keep up, it will help them stand out.”

Click HERE to view the complete 2023 Unified Commerce Benchmark for Specialty Retail.

Receive up-to-date product, customer and partner news directly from Manhattan Associates on Twitter, LinkedIn and Facebook.

METHODOLOGY:
Incisiv's 2023 Unified Commerce Benchmark for Specialty Retail is the industry's first Unified Commerce benchmark with real purchases, real returns, and real customer journeys across digital and physical channels. 

The Benchmark comprises of research from 124 retailers benchmarked across 11 specialty retail segments choosing a mix of top omnichannel retailers by revenue, and top Digital Native Vertical Brands (DNVBs) by store count, spanning 286 customer experience capabilities across four functional areas: Search & Discovery, Cart & Checkout, Promising & Fulfilment, & Service & Support

Incisiv's team of customer experience analysts conducted comprehensive shopping journeys, including 8 real purchases and returns with each retailer studied, across both physical and ecommerce channels. Assessed retailers were then scored based on the adoption of customer experience capabilities, the efficacy of each capability, and the consistency and quality of experience.

ABOUT MANHATTAN ASSOCIATES:
Manhattan Associates is a technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers.

Manhattan Associates designs, builds and delivers leading edge cloud solutions so that across the store, through your network or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit www.manh.com 

Press Contact:
Devika Goel
Manhattan Associates
Tel: +1 470-435-1566
dgoel@manh.com

FAQ

What does the Unified Commerce Benchmark for Specialty Retail reveal about Manhattan Associates?

The benchmark shows that Manhattan Associates enables retailers to achieve up to 6X revenue growth by adopting Unified Commerce strategies.

What challenges did the 2023 Unified Commerce Benchmark identify for retailers?

Challenges included low personalization access (38%), inadequate real-time inventory visibility (29%), and limited flexibility in order fulfillment (15%).

Who are the key partners in the Unified Commerce study conducted by Manhattan Associates?

The key partners are Google Cloud and Zebra Technologies, collaborating with Manhattan Associates.

How many retailers were studied in the Unified Commerce Benchmark?

The study analyzed 124 retailers across 11 specialty retail segments.

What are the benefits of adopting Unified Commerce solutions according to the press release?

Unified Commerce solutions enhance customer experiences, improve visibility, and drive significant revenue growth.