Here at Netmatter we pride ourselves in our ability and achievements on building and advising on successful ecommerce websites. Since the mid-90s with the rise and commercialisation of the internet, companies have been able to expand their business online with the numbers and locations of customers they were able to reach, increasing tenfold.
With this evolution in retail and technology, ecommerce is fast becoming the most widely used portal for entrepreneurs and consumers; both in the UK and all over the world. But what makes consumers chose to shop online and what should retailers be doing? We have some fascinating statistics from a Vouchercloud marketing report coupled with our expertise to give a real insight into the success of ecommerce with the consumer.
Time is money, my friend.
We live in a world where our time is short and we are constantly demanding faster service from every aspect of our life. 57% of shoppers will abandon a site if they have to wait more than 3 seconds for something to load and 80% of these shoppers will never return! These are staggering numbers but being aware of these repercussions is what leads to retail success for online stores. For the consumer, ecommerce allows for several transactions to take place within the space of an hour; whereas previously one trip to the shopping centre would take this long - sometimes even just to park! No wonder we all now chose to stay in with our pyjamas and a cup of tea browsing through the high street.
Banking transfers and home delivery create a too-good-to-refuse service for consumers who no longer have to lift a finger (well, a few) to have their item arrive at their door - most of the time, it can come the next working day! And here at Netmatter, we are all aware of the growth of ecommerce companies such as Ebay and Amazon over the years; but how are they doing it? All companies want to achieve customer satisfaction and ultimately retention, but without the face to face customer service; offering a seamless transaction to their site visitors, will be the best they can do without a smile and firm handshake.
Why should I buy this?
Whether you are a start up company or a business that is looking to take their retail trade online; the website you have designed and how it operates will be the most important cog in your ecommerce machine. 92.6% of consumers have said that the visuals of a website are the most influential factor affecting their decision to buy; this percentage is pretty much the entire consumer market - so it goes without saying that having a creative and interesting layout will give you great results.
Of course the products you have on offer will also be considered by visitors and how you chose to visually display them will affect how much you sell of it; so what's the best way to showcase your must-have produce? With any ecommerce site and ultimately the entire internet, human interaction has been left out of the equation. 52% of people are willing to stay on a website longer when there are product videos supplied from the business, so why is this?
We at Netmatter are aware that consumers are no longer able to physically touch or experience a potential purchase and there are certainly no employees to provide a personalised face to face sales pitch; so with 57% of people quoted as saying they feel more confident in making a purchase when there is a video of a product being used - we know that the benefit of saving money on employee salaries and display units should most certainly be put into creating an enjoyable user journey with as much visual product explanations as possible.
What did other people think?
85% of shoppers read online reviews before using local businesses, much like a holiday abroad or local restaurant your reviews will matter and your reputation as a business operation will more often than not play more of a role in your financial success than your physical products. This is because with the speed and ease consumers can browse websites, make impulse purchases and share information; you need to make sure you can stand out from the crowd and essentially become a pleasure to do business with so not only do they recommend you to their friends, but they come back for more.
The consumer wants to know that they are going to have a smooth transaction and that if anything does go wrong they are in safe hands. With 41% of consumers abandoning an online shopping cart because of hidden charges, its very clear that when creating an ecommerce site you will need to have a clear, honest attitude to your visitors and website.
29% of consumers will abandon a purchase due to having to register before buying; this tells us that companies can often make people feel pressured to be involved with the wider business or that the company and its associates will bombard them with information they may not want. Consider creating calls to action that can please the masses; a great example will be companies like ASOS halving this statistic by offering a guest checkout option.
Where's my money?
It has always been tough to part with hard earned cash and even more so when you don't have a human to hand it to, so with electronic payments and numbers with passwords and consumers' personal information floating through cyberspace; they will need to feel happy that their payments and purchases are being protected.
With a staggering 59% of people abandoning a transaction if their preffered payment method is not on offer - it is important to provide trustworthy names and easy to use options for online payments. Paypal processes 60% of all web transactions, ultimately making it the most popular payment gateway ; other popular companies include Sagepay and Worldpay so its important for consumers and businesses to do their research.