It’s essential to know the facts about eCommerce if you are selling products online so that you can check in with your website and make any necessary changes. The growth of eCommerce is absolutely staggering and it’s not slowing down any time soon. According to estimates, there are 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. Having an online store is becoming a popular way for more people to make money online. Here are some important eCommerce stats and facts that you must know to improve your marketing strategy:
Consumers Prefer Personalized Sites– According to a study, 88 percent of consumers say that they are more likely to shop with the retailer, the more personalized their online, mobile and in-store experiences are. The study cited Amazon’s success as an example in this regard since the study found that 56 percent of consumers feel Amazon understands their needs on a regular basis.
In today’s eCommerce scenario, any talk of personalization is not complete without capitalizing on the usefulness of chatbots. Research shows that live chat is effective with 44 percent of customers agreeing to it that it’s one of the most effective features an online business can offer. The best way for marketing teams to deliver better and more personalized service is by harnessing customer data and offering live support, communications tailored to their purchase and interaction history. Customer support should be clued in on what is happening in order to deliver quick results.
Most Customers Are Likely To Leave A Review If Asked– Only 14 percent of consumers are “very likely” to write an uninvited review, while 29 percent are “very likely” to write a review if invited by the company.
Trustpilot’s “How Consumers Use Reviews Today” report discovered points, such as 19 percent consumers read reviews before visiting a company website, about 57 percent consumers use search engines to find those reviews, 79 percent want to see companies responding to negative reviews, 89 percent consumers check reviews at least sometimes when they shop, around 47 percent of consumers check online reviews while on a brand’s website before adding items to their cart.
It’s impossible for an eCommerce site to have a complete marketing strategy without taking the views into consideration. The above-mentioned statistics make it completely clear that reviews are strongly influencing consumer behavior.
Price, Shipping, Discounts Can Have Immense Impact– Price (87 percent), discount offers (71 percent), and shipping cost and speed (80 percent) are the main factors considered extremely influential in deciding where Americans shop. This highlights how incredibly price-conscious the shoppers are. Competing with the big ones on price can be a big struggle for small retailers. The best way to offer something of value (when competing on price is of no use) is by pushing for exclusive items. Do not compete on price alone, offering free shipping and incorporating the price of shipping into the price of the product can have a positive impact on rates of conversion as well.
An Average Of 12 Searches Is Performed By B2B Customers– According to a research conducted by Google, an average of 12 searches is conducted by B2B shoppers prior to engaging with the website of a specific brand. You need to target more general informational queries since 71 percent of B2B researchers start their research with a generic search instead of a branded query. Not only B2B influencers, but the average consumers also visit three stores prior to making a purchase. Businesses should use customer relationship management (CRM) and marketing automation software to have an updated view of the sales funnel, qualified leads and automatically track interactions of customers across multiple channels.
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