Market Analysis: eCommerce and digital capabilities of 200+ LED lighting brands

2020 has arrived and to illuminate the new year, we kicked off the year with an analysis of 200+ LED lighting brands.

Watch the 2-min executive summary video here:
https://youtu.be/DcLclw7XMgM

View the full report here:
https://friedlandenterprises.docsend.com/view/r4cnum9

Why we conducted the analysis

To give executives and strategic decision-makers a view of the market landscape in order to benchmark their internal goals and progress related to digital and eCommerce.

Key highlights

• 26% have eCommerce capabilities (the ability to sell on their site)
• 56% have a Google SERP result display
• 90% of brands have some social media presence
• 23% have a presence on all major social platforms
• 2.2 seconds — the median amount of time it takes to load a brand’s website (on desktop)
• 6.8 seconds — the median amount of time it takes to load a brand’s website (on mobile)
• Bounce probability increases 32% when page load times go from 1 to 3 seconds

Takeaways

LED lighting is a large and growing industry with a projected global market size of nearly US$100 billion by 2023 with a 7%+ CAGR (compound annual growth rate).

When compared with faucet brands we analyzed, the LED lighting brands we analyzed lag in their eCommerce capabilities — 26% of lighting brands and 56% of faucet brands, respectively.

Markets and economies change and evolve. The way in which consumers discover and engage with brands, research products, and make purchasing decisions continues to change and evolve. Having a strategy to participate online will continue to grow in importance.

Interested in how to create best-in-class eCommerce capabilities?

We focus on digital transformation and helping manufacturers sell directly to consumers online, through their site(s) and marketplaces. Reach out and learn more by visiting our site:
https://www.friedlandenterprises.com