Stats that Will Shape The New Year
By WM Staff
Modern consumers are becoming quite transparent about what makes them click or not click, buy or not buy.
Directly asking online shoppers what their top purchase drivers and deterrents are, however, remains one of the most effective approaches to improving engagement and increasing conversions in today’s digital enterprise.
Key findings, for example, of Visual Website Optimizer’s (VWO) Nov. 2014 e-commerce survey “Trends and Insights to Find and Convert Buyers” indicated the importance of retargeting shoppers to complete transactions. According to the survey, 54 percent of shoppers say they will purchase products left in their cart if they are offered them again at a discounted price. Among millennials (age 25-34), the number is significantly higher (72 percent).
Why do shoppers abandon their carts in the first place? According to VWO’s study, unexpected shipping costs were the top sales deterrent (preventing 28 percent of buyers from completing their purchases), followed by the requirement for creating a new user account (23 percent). Finally, people were hesitant to buy because they were only conducting research (16 percent) or had payment security concerns (13 percent).
“Online shoppers are diverse and constantly changing,” said Paras Chopra, CEO and founder of VWO. “In the highly competitive e-commerce marketplace, even a slight marketing misstep can be costly. When armed with consumer intelligence, marketers can ensure that they’re optimizing their websites and winning the conversion game.”
For more insights into the state of today’s e-commerce buyer, visit wsm.co/14buyer.