What can we learn from eCommerce statistics? And why should we be worried?
Large eCommerce websites like Amazon have established and expanded their online eCommerce presence. The ease-of-use and mass adoption by people from all over the world is a real worry for store owners. Brick and mortar stores are feeling the pressure with many stores already closing their doors. Expect this trend to continue. If you sell a range of products, regardless how small. You should find a presence online where your products can be found. By not doing so you would be hindering your company’s chances of success.
5 tips when creating an online shopping website
- Your website must provide an excellent user experience. Mobile and desktop traffic only succeed when there is easy navigation, quick load times and clear product descriptions.
- Make sure your logistics and support are perfectly planned out. Quick shipping no longer than 5 days turn-around. Try incorporating shipping costs into item costs. Responsive customer support. Product/company reviews are very important so how you handle client disputes and returns is very important.
- Clear costs and privacy information. Users do not want their information sold to 3rd party company’s. Make It clear on your website you respect their personal information and never sell data. All product & shipping costs should be clearly shown on checkout. Loyalty discounts and discount coupons are a proven way to drive more traffic and sales.
- Give users the option to sign-up to newsletters or promotions. Make sure their information is held securely. Be active on social media to build your brand and trust factor.
- Feasibility study. With 30% of all online products returned, ask yourself if you would be able to sustain your business. Take all operational costs into account, online marketing is expensive and very competitive. Be comprehensive in your planning and always look at the worst-case scenario, if you still going to be profitable then you good to go live.
Interesting stats you should know
- Eight out of every 10 people living in the US are online shoppers. The growth of online shoppers from 2002 has jumped from around 20% to around 80% in 15 years.
- US online sales estimated to be well over $350 billion for 2017 with this number expected to double in 20 years.
- Over 70% of small businesses do not have an online store or sell their products online.
- Cyber Monday had higher online sales than black Friday.
- Overall people believe they will get a better deal online than going into a store.
Shipping tips for eCommerce sellers
- Nearly 30% of all online shoppers abandon the cart if shipping costs are high.
- Nearly 50% of all online orders include free shipping.
- Expect further cart abandonment if your shipping costs are not easily visible on checkout.
- Shoppers will spend on average 30% more if free shipping is included.
- 2 days delivery is considered fast, 5-7 days is considered average and anything over that is considered slow and may cause the potential client to choose another site for the item purchase or cause them to write a bad review.
What you should be worried about as a seller
- 30% of all products bought online are returned.
- Bad service reviews can cause up to 90% customer drop-off.
- Creating a good customer experience makes is 2 times more likely the person will be a repeat buyer.
Brian oversees all of Feedonomics’ Automation Processes. He loves taking the most annoying manual tasks and automating them. Brian received both a Bachelor’s and Master’s degree in Mechanical Engineering from UCLA, where he graduated summa cum laude.