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VWO eCommerce Consumer Survey Report - 2017

VWO
VWO

VWO’s eCommerce Consumer Survey Report for 2017 dives deep into the challenges associated with eCommerce. The report also covers how enterprises can address these challenges, and understand what makes a customer tick and stick with an eCommerce venture. ​​Here’s a brief of what the report entails: - ​​Challenges faced by eCommerce enterprises at various stages of a customer lifecycle ​- ​Business expansion challenges ​​- Low conversion rate ​​- Importance of mobile optimization ​- ​Omnichannel approach in the eCommerce industry ​​Order and inventory fulfilment

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ECOMMERCE CONSUMER
SURVEY REPORT
2017
Insights on overcoming top challenges for
eCommerce enterprises
TABLE OF
CONTENTS
Foreword 03……………..……………..……………..……………..…………………………..……………………......…..
Introduction 04……………..……………..……………..……………..…………………………..………………………..
eCommerce Challenges 06……………..……………..……….…………………………..………………………..
Combating Market Expansion Challenge 10………..……………………………………..……………
Provide an Omnichannel Experience
Exploring International Commerce
11
16
……………………….…………………………..……………………...………..
……………………….…………………………..………………………………..……..
Refining Your Customer's Digital Experience 19…………..…………………….………………..…
Building a Highly Personalized Customer Experience
Go Strong with Mobile Optimization
Don’t Underestimate the Power of Reviews
Provide a hassle-free Checkout Process
20
23
28
30
…………………..…………………..…………..……..
……………………….…………………………..……………………..……………..
……………………….…………………………………..………..……..
……………………….……………………………..………..…..……..……..
Challenges Related to Logistics 33……………………….……………………………………………………..
Striving Toward Perfect Order Fulfillment
Managing Multiple Sellers’ Catalogue
34
36
……………………….…………………………….…….…………..……..
……………………….…………………………..…………….…………………..
Key Takeaways 38……………………….……………………………………..…………………………………………..
About VWO 41……………………….……….…………………………………..…………………………………………..
eCommerce Consumer Survey Report 2017 02eCommerce Consumer Survey Report 2017 02
FOREWORD
The world is going increasingly digital, and is frenzied and in a rush. However, taking time
out to understand what consumers are telling us with their clicks and spends is a wise
investment for any business owner—not the least for those in the exciting industry of
eCommerce.
The 2017 eCommerce Consumer Survey Report is based on the responses collected from
over 1,000 online shoppers, uncovering insights for the 3 critical stages of the eCommerce
journey—before, during, and after a store visit. WooCommerce is proud to partner with
VWO for this year’s Survey Report, and we’re confident that the report contents will be
informative and useful to store owners and developers worldwide.
The key drivers of purchase decisions, differences in online and offline behaviors,
omnichannel, global expansion, and common pitfalls in digital experience and mobile
commerce are just a few of the topics you can look forward to discover in this report.
WooCommerce is built on WordPress and fully customizable, with over 2M+ active installs
making it the most widely used eCommerce platform to date. If you’re ready to explore the
world of open eCommerce, visit us at WooCommerce.com.
Enjoy this fine reading, mining out insights to apply to your business or idea for the rest of
2017 and beyond.
eCommerce Consumer Survey Report 2017 03
Marina Pape
Marketing Manager at Woocommerce
INTRODUCTION
AGE OF THE CUSTOMER
For the past decade, the growing technology has tipped the balance of power in favor
of tech-savvy consumers, bringing in what Forrester Research calls “the Age of the
Customer.”
The retail industry has been no alien to this proliferation of technology. Devices like
smartphones and tablets, and technologies like 3G, 4G, Wi-Fi, and high-speed
broadband are helping increase the customer base. Banks and other players in
eCommerce ecosystem are providing a secure online platform to pay effortlessly via
payment gateways.
Therefore, it becomes integral to understand and cater to your customer needs at all
stages of their buying journey.
ONCE, TECHNOLOGY FAVORED COMPANIES; NOW IT EMPOWERS
CUSTOMERS
Businesses
Customers
Information
Price Location
Before Now
2014 Forrester Research
Businesses
Customers
Information
Price Location
Technology
eCommerce Consumer Survey Report 2017 05
CHALLENGES FACED
BY ECOMMERCE
ENTERPRISES
There are 3 stages of challenges that enterprises face with
respect to understanding their customers:
Before the Customer Lands on Your Website
When the Customer Lands on Your Website
After the Customer Lands on Your Website

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VWO eCommerce Consumer Survey Report - 2017

  • 1. ECOMMERCE CONSUMER SURVEY REPORT 2017 Insights on overcoming top challenges for eCommerce enterprises
  • 2. TABLE OF CONTENTS Foreword 03……………..……………..……………..……………..…………………………..……………………......….. Introduction 04……………..……………..……………..……………..…………………………..……………………….. eCommerce Challenges 06……………..……………..……….…………………………..……………………….. Combating Market Expansion Challenge 10………..……………………………………..…………… Provide an Omnichannel Experience Exploring International Commerce 11 16 ……………………….…………………………..……………………...……….. ……………………….…………………………..………………………………..…….. Refining Your Customer's Digital Experience 19…………..…………………….………………..… Building a Highly Personalized Customer Experience Go Strong with Mobile Optimization Don’t Underestimate the Power of Reviews Provide a hassle-free Checkout Process 20 23 28 30 …………………..…………………..…………..…….. ……………………….…………………………..……………………..…………….. ……………………….…………………………………..………..…….. ……………………….……………………………..………..…..……..…….. Challenges Related to Logistics 33……………………….…………………………………………………….. Striving Toward Perfect Order Fulfillment Managing Multiple Sellers’ Catalogue 34 36 ……………………….…………………………….…….…………..…….. ……………………….…………………………..…………….………………….. Key Takeaways 38……………………….……………………………………..………………………………………….. About VWO 41……………………….……….…………………………………..………………………………………….. eCommerce Consumer Survey Report 2017 02eCommerce Consumer Survey Report 2017 02
  • 3. FOREWORD The world is going increasingly digital, and is frenzied and in a rush. However, taking time out to understand what consumers are telling us with their clicks and spends is a wise investment for any business owner—not the least for those in the exciting industry of eCommerce. The 2017 eCommerce Consumer Survey Report is based on the responses collected from over 1,000 online shoppers, uncovering insights for the 3 critical stages of the eCommerce journey—before, during, and after a store visit. WooCommerce is proud to partner with VWO for this year’s Survey Report, and we’re confident that the report contents will be informative and useful to store owners and developers worldwide. The key drivers of purchase decisions, differences in online and offline behaviors, omnichannel, global expansion, and common pitfalls in digital experience and mobile commerce are just a few of the topics you can look forward to discover in this report. WooCommerce is built on WordPress and fully customizable, with over 2M+ active installs making it the most widely used eCommerce platform to date. If you’re ready to explore the world of open eCommerce, visit us at WooCommerce.com. Enjoy this fine reading, mining out insights to apply to your business or idea for the rest of 2017 and beyond. eCommerce Consumer Survey Report 2017 03 Marina Pape Marketing Manager at Woocommerce
  • 5. AGE OF THE CUSTOMER For the past decade, the growing technology has tipped the balance of power in favor of tech-savvy consumers, bringing in what Forrester Research calls “the Age of the Customer.” The retail industry has been no alien to this proliferation of technology. Devices like smartphones and tablets, and technologies like 3G, 4G, Wi-Fi, and high-speed broadband are helping increase the customer base. Banks and other players in eCommerce ecosystem are providing a secure online platform to pay effortlessly via payment gateways. Therefore, it becomes integral to understand and cater to your customer needs at all stages of their buying journey. ONCE, TECHNOLOGY FAVORED COMPANIES; NOW IT EMPOWERS CUSTOMERS Businesses Customers Information Price Location Before Now 2014 Forrester Research Businesses Customers Information Price Location Technology eCommerce Consumer Survey Report 2017 05
  • 6. CHALLENGES FACED BY ECOMMERCE ENTERPRISES There are 3 stages of challenges that enterprises face with respect to understanding their customers: Before the Customer Lands on Your Website When the Customer Lands on Your Website After the Customer Lands on Your Website
  • 7. BEFORE THE CUSTOMER LANDS ON YOUR WEBSITE A real challenge for your large-scale enterprise is to make the customer interested in your brand, thanks to the increasing competition. The sheer number of websites providing similar products at competitive rates requires you to be on your toes and devise radical marketing strategies to maintain your market share. The offline retailers deepen the competition, as each of you tries to improve your market share. WHEN THE CUSTOMER LANDS ON YOUR WEBSITE Even after convincing an online buyer to land on your website through various sources, there still are multiple steps before the buyer completes a purchase. Understanding and optimizing the customer journey and pain points, therefore, becomes important. AFTER THE CUSTOMER LANDS ON YOUR WEBSITE As your eCommerce business grows, there are bound to be multiple sellers involved. Managing a consistent experience for your customers along with the the difficulties of managing last mile delivery grows. New customer expectations regarding time to delivery, overall product experience, and open communication have forced online retailers to invest in new technological solutions to manage their operations. eCommerce Consumer Survey Report 2017 07
  • 8. In this report, we attempt to provide solutions to overcome these challenges. For perspective, we have included responses collected from 1,000 online shoppers about their online buying habits and their experiences with the current eCommerce enterprises. This report brings together insights from customers as well as industry experts for eCommerce enterprises to position themselves as future leaders in the marketplace. eCommerce Consumer Survey Report 2017 08
  • 9. DEMOGRAPHICS This survey was conducted by VWO in April 2017 for 1,000 respondents from the US and the UK, two of the largest eCommerce markets for decades. The respondents included both mobile and desktop users, from the age group of 18 to 55 years. The income group of the respondents are as below: NumberofRespondents Average Income 300 250 200 150 100 50 0 Under $25,000 Between $25,000 and $49,999 Between $50,000 and $74,999 Between $75,000 and $99,999 Between $100,000 and $124,999 Between $125,000 and $149,999 $150,000 or more Prefer not to say Household Income Mapping of the Respondents eCommerce Consumer Survey Report 2017 09
  • 11. 42% About 42% of the consumers agreed that online shopping is more economical than offline. WHAT DO YOU SEE AS THE SINGLE-MOST IMPORTANT ADVANTAGE OF SHOPPING ONLINE, COMPARED TO SHOPPING ON A PHYSICAL STORE? 23.42% Comfort 42.04% Cheaper Price 28.22% More variety 4.45% None of the above 1.87% Storng Security PROVIDE AN OMNICHANNEL EXPERIENCE - FROM (ONLINE VS. OFFLINE) TO (ONLINE + OFFLINE) Consumers choose online shopping for a myriad of reasons. Here are some of the popular ones, as spelled out by the consumers themselves. eCommerce Consumer Survey Report 2017 11
  • 12. Whether the customers are in a physical store, on a computer, or on a mobile device, they require the same service levels and access to information throughout the entire shopping experience. Traditional brick and mortar store Emergence of eCommerce Multi-channel sales Omnichannel However, the benefits of offline shopping are not entirely lost for the digitally empowered consumers. Website and physical store that were once distinct entities are now being used as interchangeable and complementary services. For example, customers can place an order online and pick it up from a store, or order from a physical store and have the items shipped to their homes. eCommerce Consumer Survey Report 2017 12
  • 13. Today’s consumers are adopting a fluid, pretzel-shaped shopping journey rather than a linear one. They start and end their shopping experiences on a mobile platform, in store, or online, at will. WHICH OF THE FOLLOWING CLOSELY DEFINES YOUR BUYING HABIT ONLINE? 51% On being asked about their buying habit, about 51% of the customers said that they combine their online and offline shopping experience before making a purchase. Research online and visit store to purchase Research online and buy products online Visit a store first, and then purchase online Research online visit store to view product, then return online to purchase eCommerce Consumer Survey Report 2017 13
  • 14. WHICH OF THE FOLLOWING CLOSELY DEFINES YOUR BUYING HABIT ONLINE? By 2018, Forrester estimates that digital technology will influence, in some way, almost 60% of all physical store retail transactions, worth US$1.8-trillion. This “influence” is already approaching in many forms: In-store sales associates using iPads to check inventory for customers; digital signage that changes promotions based on preferences and proximity of a shopper; showrooming or “webrooming” where shoppers compare products online or in-store, but buy elsewhere; or simple try-on- delivery service. I always buy from online stores 34.43% I usually browse the products online and shop them offline 28.13% I usually browse the product offline and shop them online 22.92% None of the above 14.51% 51.05% eCommerce Consumer Survey Report 2017 14
  • 15. This trend is why CMOs and CIOs should focus on adopting an omnichannel approach. Leading-edge companies know that experience-driven strategies can help them compete more effectively, particularly for that younger buyer, through customer service and digital experiences rather than on price or operational technology alone. Keith Anderson, SVP Strategy & Insight, Profitero, suggests the following when it comes to creating supportive organizational structures for omnichannel. Top-down commitment and support are essential. In the absence of the same, many organizations fail to prioritize or align on how to implement and execute on omnichannel. Key functions should be responsible, but the whole organization is accountable. Certain teams or titles should be primarily responsible for doing the work of marketing and selling through all channels. But the entire business should be accountable. There is a risk in simply appointing a “head of omnichannel,” without anticipating the impacts on other functions such as customer service, finance, and logistics. Digital and omnichannel competency is necessary for all company functions and disciplines, not just an isolated, specialist team. Definitions of success and incentives matter. Many companies that try to embrace omnichannel discover internal conflicts driven by misaligned incentives. For example, who gets the credit for an online sale fulfilled and collected in-store? How are inventory and labor costs allocated? Ultimately, KPIs and incentives need to balance near-term and long-term goals such as maximizing profitability in the short-term versus growing market share. Also, enterprise success must always be prioritized over success in an isolated channel. eCommerce Consumer Survey Report 2017 15
  • 16. EXPLORE INTERNATIONAL COMMERCE The scope of expansion increases in international markets as more and more consumers become interested in shopping across borders. 56% of the respondents said that they had made a purchase from an international store, and another 31% were willing to experiment. HAVE YOU EVER MADE A PURCHASE FROM AN INTERNATIONAL ONLINE STORE (BASED OUTSIDE OF YOUR COUNTRY)? Yes, I have 56.79% No, but I would consider 31.97% No, I don’t like international stores 11.24% eCommerce Consumer Survey Report 2017 16
  • 17. Global expansion is becoming increasingly popular as a way for eCommerce enterprises to expand. Businesses can benefit from global eCommerce by having access to shoppers worldwide at all times. eCommerce enterprises can partner with experts in the shipping and logistics industry who offer new solutions and technologies to make cross-border selling easier. You could also invest in creating new logistics channel altogether like Amazon. eCommerce Consumer Survey Report 2017 17
  • 18. HERE ARE 4 OF THE MOST COMMON CHALLENGES THAT RESULT IN FAILED EXPANSION OVERSEAS. MINIMAL EFFORT IN CREATING A COUNTRY-SPECIFIC WEBSITE If you want to sell your goods online, understand that a translated website may not be enough. The local language, expressions, and overall way of communicating must reflect on the local site. REPLICATING YOUR CURRENT BUSINESS MODEL BLINDLY A lot of companies try to exactly recreate their current processes to accommodate local laws and business practices. Unfortunately, this generally isn’t enough to sustain your presence in a new market. CHOOSING THE WRONG PARTNERS You may have put together an awesome domestic team that conducted exhaustive research on the region and created a great business strategy based on their findings and insights. But these efforts may be all for naught if your local partners can’t properly execute your strategy. ASSUMING YOUR BRAND IS RECOGNIZED OVERSEAS Your brand may be a winner in your present country, but have to completely look at it with fresh eyes when expanding. eCommerce Consumer Survey Report 2017 18
  • 20. BUILD A HIGHLY PERSONALIZED CUSTOMER EXPERIENCE With the myriad of tools and technology available, personalization strategies are becoming a must-have instead of a good-to-have. 36% About 36% of buyers agreed to be more likely to buy if the website showed products based on their browsing history. HOW LIKELY ARE YOU TO BUY FROM A WEBSITE IF IT SHOWS PRODUCT BASED ON YOUR BROWSING HISTORY? eCommerce Consumer Survey Report 2017 20 28.34% Not very likely 36.18% Very likely 35.48% Indifferent
  • 21. Innovative brands are leading the way in defining the next generation of customer experience with eCommerce personalization, delivering more accurate, relevant, and personalized touch points both in store and online. These companies are incorporating retail fundamentals like optimizing customer interactions over mobile devices, building brand loyalty by giving each customer a voice, and creating unique customer experiences as part of a customized journey to increase engagement and drive sales. A/B testing is one approach to measure the success of your personalization campaigns. You can run your personalization campaigns as A/B tests. If your campaign delivers a win, you should replicate its success by planning and running more campaigns on similar hypotheses. If the campaign fails to achieve the goal, identify and record the reasons for what went wrong. Maintaining a repository of learning is essential to avoiding mistakes of past A/B tests and running smarter campaigns in the future. UNDERSTAND YOUR CUSTOMERS BETTER WITH A/B TESTING AND PERSONALIZATION A BHomepage v1 Homepage v2 eCommerce Consumer Survey Report 2017 21
  • 22. Talking about the present situation, the buyers considered the relevance of the suggested products to be quite satisfactory. Almost 70% of them rated it higher than 4 on 5. Product Name 11 USD 1 Add to Cart Suggested Products Simple product 12 11 USD Add to Cart Simple product 12 11 USD Add to Cart Simple product 12 11 USD Add to Cart Simple product 12 11 USD Add to Cart HOW WOULD YOU RATE THE RELEVANCE OF THE RECOMMENDED/ SUGGESTED PRODUCTS ON THE WEBSITES YOU SHOP ON? 1 1.41% 2 4.10% 3 25.06% 4 47.37% 5 22.37% eCommerce Consumer Survey Report 2017 22
  • 23. GO STRONG WITH MOBILE OPTIMIZATION When designing and developing online shops, it is increasingly important to consider what devices your customers will be using—not only to view the site, but also to order, check out, and pay. 47% About 47% mentioned mobile as their choice of device when buying online. IN TERMS OF EASE OF EXPERIENCE, WHICH PLATFORM DO YOU PREFER WHEN BUYING ONLINE? Mobile 47.00% Desktop/Laptop 40.29% iPad/Tablet 12.71% eCommerce Consumer Survey Report 2017 23
  • 24. Kunle Campbell An ecommerce growth consultant, The principal at 2X eCommerce The eCommerce Personalization solutions space is currently fragmented, let me explain; In eCommerce, solutions for personalization currently fall into the following three categories: Personalized On-site targeting through modal pop-ups, header/footer banners, sliders, pop-unders and dynamic content blocks Personalized 1:1 email automation for product recommendations and Personalized product recommendations for on-site merchandising eCommerce Consumer Survey Report 2017 24
  • 25. Ecommerce managers currently have to use two or more platforms to manage each of the above personalization categories. I will like to see more consolidated customer centric personalization solutions that cater to both on-site user experience and backend 1:1 email communications. This will draw the core of eCommerce marketing closer to a single customer view (SCV). There is also an opportunity to layer in AI driven chatbots such as Facebook’s messenger into personalized experiences. The biggest opportunity for growth and improved conversion rates lies in dynamic pricing, because if it is effectively latched into on-site product merchandising, customers get prices relevant to both themselves and retailers. Artificial intelligence will drive the next wave of eCommerce personalization. AI bots are likely going work as both backend and customer facing personal assistants driving on-site targeting, product recommendations, dynamic pricing and 1:1 communications via chatbots and email. There is currently a huge gap in dynamic pricing with only a few providers offering standalone solutions. Dynamically changing pricing based on a full understanding a customer’s onsite and offsite interactions as well as purchase history offers significant opportunity for improved conversions. Kunle Campbell eCommerce Consumer Survey Report 2017 25
  • 26. Mobile commerce has made a lot of progress over the last few years. Instant payments solutions in particularly have significantly streamlined the mobile checkout flow by making most mobile checkouts a two-tap process at the most. The major players in the eCommerce instant payments space are PayPal Express, Amazon Payments, Stripe and more recently Shopify Pay. Apple Pay and Android pay are particularly more popular within mobile apps. I’d encourage eCommerce managers to experiment with at least 2-3 instant payment solutions for mobile shoppers, and to track both transaction volume and conversion rates for each solution. Your key mobile UX objective is to deliver in a frictionless checkout flow. eCommerce Consumer Survey Report 2017 26 Kunle Campbell
  • 27. The first thing to consider is whether you intend to build a completely customized mobile experience, separate from the desktop site, or whether you will simply “optimize” the mobile experience. Ask yourself if is it enough to simply tweak the layout for smaller screens? If you feel you need a totally different workflow for mobile, think carefully about whether responsive would be fit for your business. Or rethink your workflow. Keep it simple. Keep it intuitive. Small UX and UI modifications are often sufficient. Perhaps you can rework certain areas of the desktop interfaces to improvise the mobile experience. If the site is complex, it won’t adapt to mobile; may be it’s time for a fresh start. How Tough Mudder gained a 9% increase in sessions by optimizing for mobile users using VWO. Case Study eCommerce Consumer Survey Report 2017 27 Download Case Study
  • 28. DON’T UNDERESTIMATE THE POWER OF REVIEWS Online reviews contribute a lot more to purchasing decisions than they are typically given credit for. This is especially true when you consider how an average consumer will spend a long time reading about and researching a product online, before deciding to purchase it in-store. HOW IMPORTANT ARE CUSTOMER REVIEWS FOR YOU TO MAKE A BUYING DECISION? Very important, I read almost all 53.86% Somewhat important, I read at least tow 37.59% Not important, I sometimes look at them when available 6.79% Not important, I don’t look at them 1.76% eCommerce Consumer Survey Report 2017 28 54% About 54% of the participants confirmed that they read almost all reviews.
  • 29. How Express Watches increase sales by 58.29% by adding a customer review widget. Download Case Study eCommerce Consumer Survey Report 2017 29 Case Study
  • 30. PROVIDE A HASSLE-FREE CHECKOUT PROCESS When it comes to ecommerce, the highest drop-off point is the checkout. In some cases, it’s due to consumer indecisiveness, but mostly, it can be attributed to the complexity and confusion of the checkout process. 36% 36% of people considered filling the same information twice as the most frustrating part of a checkout process. WHAT IS THE MOST FRUSTRATING PART OF THE CHECKOUT PROCESS? Filling the same informatio n twice 36.77% Too many form fields 18.62% Complicate d website navigation 15.46% Unable to modify/ change order 8.20% Unable to find relevant filters 4.45% Back button doesn’t go to previous page 13.93% Other 2.58% eCommerce Consumer Survey Report 2017 30
  • 31. 42% Unexpected shipping charges was the top reason for more than 42% of participants to abandon a particular purchase. WHAT HAS BEEN THE TOP REASON FOR YOU TO ABANDON A PARTICULAR PURCHASE? Unexpected shipping charges 42.39% Negative customer reviews 23.54% Registration process 14.87% Unclear product details 14.75% Payment failure from the bank 3.28% Other 1.17% eCommerce Consumer Survey Report 2017 31
  • 32. Enterprises should aim to keep the checkout process simple and transparent. They should begin with minimizing the number of required steps to make a purchase. This means allowing users to preview items without navigating away from the product page, as well as adding items to the cart directly from the category sections. They can also consider offering payment options such as PayPal's OneTouch, Android Pay, and Apple Pay, which accelerate the checkout process. These options optimize the shopper journey, saving shoppers the inconvenience of dozens of form fields and fumbling for credit cards. Ben Davis Deputy Writer at Econsultancy, in this article elaborates on checkout page optimization: Worldpay that hasn’t been properly integrated and isn’t mobile optimised annoys me. It just seems like the merchant doesn’t want to pay for a more sophisticated solution. I have a whole host of other UX gripes that have been around forever – like when my details aren’t auto-populated, even though I’m signed in. I also don’t like having to add a billing and delivery address, even when they’re the same. I’m a fan of single-page checkouts. Too many people have too little mobile data or too weak a connection, so page refreshes can start to feel old fashioned. “Next… Next… Next… eCommerce Consumer Survey Report 2017 32
  • 34. STRIVE TOWARD PERFECT ORDER FULFILLMENT As a full-scale eCommerce enterprise, you need to invest into a smooth order fulfilment. This includes taking products from warehouse shelves, packing these, handing these to shippers, and then sending an autoresponder to your customers to let them know their packages are in transit. Supply chains are the lifeline of eCommerce players. The rapidly growing eCommerce sector needs a robust logistic and supply chain to be successful in future. Your Company Clients Clients Place Orders Vendors Receive Orders Vendors Vendors Ship OrdersClients Receive Orders eCommerce Consumer Survey Report 2017 34
  • 35. Buyers, in the present times, want to know exactly how and when their package will arrive. They are not content with just placing their orders and waiting for them endlessly. They get agitated when there is a delay in their package arrival. 30% About 30% of respondents said that a fixed date of delivery increases the likelihood of making a purchase. TALKING ABOUT DELIVERY OPTIONS, WHAT WOULD MAKE YOU MORE LIKELY TO BUY ONLINE? A fixed date for my delivery 30.68% Next day delivery 26.58% It doesn’t affect my buying behavior 26.11% Ability to collect at local stores 10.42% Same day delivery 6.21% eCommerce Consumer Survey Report 2017 35
  • 36. MANAGE MULTIPLE SELLERS’ CATALOG Managing your eCommerce catalog is difficult, but important. Difficult, because you may have thousands of SKUs from multiple sellers to publish across different sales channels. It’s easy for your product data to become messy and inconsistent. It’s tedious and time-consuming to continuously update and manage your data. 95% But important, because a whopping 95% of the respondents agreed that they look at products from different sellers before completing a purchase. DO YOU COMPARE SIMILAR PROUDCTS FROM DIFFERENT SELLERS BEFOR BUYING? Yes, sometimes 95.78% No, never 4.22% eCommerce Consumer Survey Report 2017 36
  • 37. Merchants who settle for subpar product information end up with decreased sales. To solve these types of challenges, enterprises are investing in Product Information Management, or PIM systems. PIM systems are designated software that helps merchants centralize, manage, and list their products across many sales channels. These systems help merchants standardize data through robust tools that clean up product data from different sources. PIM systems should save merchants from spending hours and weeks just cleaning up product data. Merchants ideally should be able to easily merchandise and list rich, high-quality product data across all of their channels. PIM System Product-Data EPR-Data Supplier-Data Product-Sheets Web Catelog & Pricelists eCommerce Apps eCommerce Consumer Survey Report 2017 37
  • 39. More than 51% of shoppers combine their offline and online experiences. eCommerce enterprises should stop looking at offline and online shoppers separately and focus on providing an omnichannel experience to their customers. International commerce holds huge opportunity, as 56% of the shoppers said that they had made a purchase from an international store and another 31% were willing to experiment. This demonstrates a huge opportunity for international business for eCommerce. eCommerce Consumer Survey Report 2017 39
  • 40. Businesses should also invest in personalizing and A/B testing their websites. Here are some compelling reasons why: 47% of the survey participants considered mobile to be their choice of device for buying online. 36% of the participants were more likely to buy if the website showed products based on their browsing history. About 54% confirmed that they read almost all reviews. Unexpected shipping cost was the top reason for more than 42% of people to abandon a particular purchase. A whopping 95% of the respondents agreed that they look at products from different sellers before completing a purchase. About 30% of respondents said that a fixed date of delivery would increase the likelihood of making a purchase. eCommerce Consumer Survey Report 2017 40
  • 41. ABOUT VWO VWO is an A/B testing and conversion optimization platform. It allows businesses to find areas of improvement on their website and optimize their website funnels for higher conversions. Here are some capabilities of the VWO platform that help businesses improve conversions: VWO also offers personalization and advanced report segmentation features so that you can optimize your conversion funnel for any set of visitors you define. eCommerce Consumer Survey Report 2017 41 VISITOR ANALYTICS Helps you visualize and gather insights about how visitors behave on your website. Get a peek into your visitor’s journey using heatmaps, visitor recordings, and form analysis. ON-PAGE SURVEYS When visitor behavior analysis does not reveal some answers, On-page Surveys let you collect qualitative insights directly from the visitors. You can create surveys and analyze the responses effortlessly. BAYESIAN STATS ENGINE Allows you the flexibility to configure A/ B, Multivariate, and Split tests the way you like and to identify which changes will bring the best results. The Bayesian Stats engine gives you reliable results in about half the time compared to traditional A/B testing engines. IDEACT Don’t have technical resources to set up advanced campaigns? Our expert team of VWO consultants and campaign developers will help set up campaigns end-to-end, no matter how advanced the requirement is.
  • 42. TRUSTED BY THOUSANDS OF LEADING BRANDS SIGN UP FOR FREE TRIAL REQUEST A DEMO +1 844-822-8378 | sales@wingify.com vwo.com