It’s no secret that online shopping is here to stay. Retailers are spending more time, effort and money than ever to figure out how to maximize revenue online, making the eCommerce landscape extremely competitive and technologically sophisticated. But if you are a brick-and-mortar retailer or have an existing online store, it is fair to ask why you’d want to reinvest in eCommerce.
What would your response be if someone proposed that you invest in a new online store? Would you answer with any of the following?
- I already have an online store and it does just fine
- My brick-and-mortar store does well by itself
- I don’t need the added headache of managing a new online store
- We have tried eCommerce in the past and it didn’t work well
If you had a thought like any of the above, take a look at these statistics from a recent online commerce market report and rethink your answers. An investment or reinvestment in eCommerce might be exactly what you need to grow.
- 71% of shoppers believe they will get a better deal online than in-store (which of course, isn’t always true…)
- Once your site loads, users form an opinion about your store and brand in about 0.5 seconds
- 44% of shoppers, online or off, begin their shopping experience by using a search engine
- 84% of online shoppers refer to at least one social media site for recommendations before online shopping
- 88% of users are less likely to return if they had a bad user experience
- Mobile commerce is now >30% of all online commerce
- Brand influence is cited as a reason for purchase in 36% of sales
- 46% of users read reviews before purchasing
And here are the conclusions we drew from the above:
- If 71% of shoppers believe they will get a better deal online, they are going to start their shopping online rather than jumping in a car.
- If you have a poor looking or performing site, people are going to make a decision not to buy from you very quickly. Additionally, if their experience was poor, they probably won’t return.
- Your online store should be very search engine friendly.
- Your online store should be mobile optimized and cater to a great mobile buying experience.
- Your online store should leverage ratings, reviews and brand advocates, and you should be encouraging brand advocates to interact with you on social media.
If you are looking to grow your retail business, eCommerce is a fantastic place to spend your time, effort and energy. As online retail evolves it is imperative to stay with, or ahead of the game.
Shoot us a note if you think your eCommerce experience could use an evaluation.