More Options, More Money?
Today’s digital shopper wants and expects options. And, companies that don’t give them options stand to fall behind in the e-commerce race.
Retailers like Fry’s and Dell realize this and use a new feature from Webcollage Inc., a company that manages real-time, automatic content updates across a network of retail websites, to give users the ability to compare similar products. (See example.)
"Our A/B testing with millions of products at the largest retailers in the world tell us the more information they have about the products they consider, the more likely they are to buy," says Webcollage CEO Scott Matthews. "Letting shoppers easily compare products side by side helps them make a quicker purchase decision and be confident they are buying the product right for them."
Although the product comparison tables’ impact on conversion has yet to be measured, Webcollage’s CRM/Marketing Manager, Grace Baek, says in the past they’ve seen an increase of 6 -36 percent due to rich product information in general.
“We expect that product comparison tables, when available and used smartly, will increase this number further by another 3 – 4 percent,” said Baek.
These comparison tables are integrated alongside the rest of Webcollage's rich content on retailer websites, all designed to dynamically show the range of product choices available at that retailer.
“The feature is available to our entire global retailer network that includes a few hundred sites, including sites such as Staples, Walgreens and Sam’s Club,” said Baek. “And similar to the rest of our content syndication features, manufacturers upload content, create the comparison tables then publish them—they do not need to create retailer specific charts, our platform dynamically sorts and filters to make sure the chart is current with only the products sold at each retailer.”