iPerceptions released its E-Commerce Industry Report Q2 2009 this week and the results provide some insight into the reason for the large gap between researching and buying among online shoppers. According to the results, 38 percent of shoppers were on-site to research about products or services, whereas only 17 percent were at the buying stage.
The iPerceptions report breaks down the reasons why visitors didn’t purchase. For e-commerce merchants, this can help you understand how to better meet the needs of your potential customers. The no. 1 reason for lack of purchase was the consumer couldn’t find what they were looking (34 percent of online visitors). Price and navigation/usability barriers were tied for second in reasons visitors leave without buying (13 percent).
iPerceptions points out that a 1 percent increase in task completion could translate into 1.6 percent increase in annual sales. This amount may seem miniscule but put into perspective, a $50 million business could be missing out on $800,000.
So what can you do about it? For one, make sure you’re ranking correctly for your products and not appearing in search results pages for products you don’t sell. And two, take a closer look at navigation and usability of your site. There are many programs and services available to provide you insight into how easy or complicated your navigation is. Take proactive measures so you’re not leaving money on the table.
Do you have other tips for turning potential customers into buyers? Comment below.
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