For the second year running, Webloyalty is publishing a secondary revenue benchmarking report. Beyond the Core II looks at how UK retailers are diversifying and increasing revenue streams using secondary revenue strategies. This report goes further than the first report, providing insight into the application of secondary revenue among UK retailers with contributions from Edwina Dunn, Pierpaolo Zollo, Stuart Coleman and Sinead Finn.
Key findings include:
- 70% of retailers surveyed are deriving revenue from secondary revenue sources.
- 40% of retailers with a turnover of £100k or more believe that secondary revenue is very or extremely important.
- 34% of retailers have a secondary revenue strategy in place, up from 26% in 2017.
- There has been an increase of retailers working with third parties on secondary revenue - up from 23% to 36% this year.
Read Richard Piper's article on how secondary revenue streams are no longer a choice… but a necessity here.