The study performed by ScanAlert among 480 online stores, titled ?Digital Window Shopping? makes fascinating reading. It refers to the average times between the user visiting us for the first time to finally materialising the purchase on our online presence.
34 hours 19 minutes seems to be the average time that surfers take to purchase a product from the first visit and 2.07% is the average conversion ratio among the stores analysed.
There are 5 things that this study teaches us:
1. The high rates of abandonment in the shopping basket ? 59.8% according to Marketing Sherpa ? is clearly down to surfers? habit of using the shopping basket as a vehicle to find out the total price of the products they want to buy. This is always a prior step to comparing different online stores. This study points out that there are more and more sites from which a specific product or service is compared.
2. Stores need to worry more about how they are creating a sense of security and reliability on their web pages, particularly among the more cautious shoppers (who are also the ones to take more time, from their initial visit, to purchase online).
3. The appearance of the ?Hacker Safe? logo increases conversion ratios by an average of 14%, particularly among the users who take longest to take the plunge. Among the ones taking longest to reach a decision (more than 21 days), the logo increases conversion by 30%.
4. Users end up buying on the website which offers:
– Price and availability:
a. Does the store have the exact product I am looking for (model, colour,?)?
b. Is the price better than the alternatives I have analysed?
c.How much will shipping cost?
– Security and trust
a.Do I trust the company?
b. Will they send me the product quickly?
c.What kind of returns policy do they have?
d. Do I feel safe providing my credit card details over the website?
5. The most influential factors and the brand and the reliability they generate (1), the age of the target (2), how easy it is to find the product on other sites and the level of competition (3), the price (4) and the features of the product itself (5).
It is interesting to note the significant jump between the 3 h 31? that it takes to buy flowers to the 83h 18? to purchase a flight.
3 final pieces of advice:
– Always invite your users to save their shopping basket for later visits.
– Find a way to send the user an e-mail inviting him/her to consider the products that he/she placed in his/her shopping basket again if he/she did not complete the purchase.
– Put the elements which generate security and trust (third-party logos, returns policy, ability to contact?) on each and every page.