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Checkout abandonment continues to be a major topic in ecommerce, and one which retailers have plenty of options to deal with.
According to stats from Salecycle, checkout abandonment rates in Q2 2013 averaged 75.5% across all industry verticals.
One way to reduce abandonment rates is to enclose the checkout process, and remove distractions that may form a barrier to purchase. Here's why...
Morrisons has finally taken the plunge and unveiled its first ecommerce store.
The grocery retailer said that its failure to launch an ecommerce store was one of the main reasons behind its recent 5.6% slump in sales, which saw its share price fall by 7%.
Ecommerce still only represents about 5% of total grocery sales in the UK, but that's still a £7.5bn market that Morrisons wasn’t able to compete in.
In general I’m not that impressed with the UX offered by Morrisons’ rival stores, as the checkout process is generally overly long and badly designed on grocery sites.
But has Morrisons managed to buck the trend? Let’s find out...
Which ecommerce sites are setting a great example for others to follow?
I've been asking the Econsultancy blog team, as well as a few ecommerce experts, for their suggestions of great ecommerce sites.
I've picked the rest, some because they offer an excellent all round experience, others aren't perfect, but were chosen for specific aspects which others can copy/learn from....
According to an August 2012 study conducted by ReffferralCandy, in the US there are 102,728 ecommerce retailers that generate $12,000 or more in revenue.
Given the ever increasing consumer migration to the digital marketplace, this number has likely grown even more in the last year and a half.
With such a competitive market, online retailers need to do what they can to stand out and provide incentive for consumers to shop at their store over another.
One way to do this is to gain the consumers’ trust and loyalty; as part of a full strategy, effective pricing strategies can help grow this customer relationship.
Pricing strategies on the website slightly mirror those in physical stores, and they are a great way to capture potential customers throughout the phases of the sales cycle.
The average man finds buying jewellery daunting. I am an average man.
By the way, this article is subtitled my ‘my poor customer experience’ or ‘less than luxury email’ or perhaps ‘why aren’t luxury retailers all over this stuff?’
I was trying to buy some jewellery for my girlfriend and because I was nervous about it, I first contacted Tiffany by email.
The reason I did this was also because the ring was out of stock on their website in the size I was after.
This started a chain of annoyances that I thought I should share, and other sites can learn from.
2013 turned out to be a monumental year for ecommerce.
Twitter, Rocket Fuel and Criteo IPOed. Online sales closed at record highs, with more and more transactions taking place by consumers on smartphones and tablets.
Overstock.com committed to become one of the early adaptors of Bitcoin as a method of payment. And in an economy traditionally dominated by finance and real estate, tech has become New York City’s second largest sector, cementing its status as Silicon Alley.
So what’s new for 2014? I asked my friends in New York’s digital community to share their predictions of how the marketers’ world may be affected as it relates to global ecommerce trends, mobile’s continued prowess, and emerging acquisition strategies. Here’s what they had to say.
Five years ago pure play was the king of the ecommerce jungle. The lean business models, efficient tax structures and minimal property costs were destined to mean the end of bricks-and-mortar retail as we know it.
Now, however, the high street is fighting back from an unexpected quarter.
Ecommerce is growing and information technology is becoming more robust. As a result, some innovative pricing strategies have come into play.
Dynamic pricing is one that has been applied more broadly across a variety of industries, and its usage is growing among retailers.
Let’s take a closer look at price discrimination and how it has evolved, the legality and ethical implications, and why many companies see it as an effective tactic.
2014 feels like a significant year for the mobile wallet.
Perhaps before long we'll all be more comfortable 'buying with Google' on mobile websites and apps.
The payment industry itself seems to be shaping up for a leap forward, with its leading conference opting for a rebrand. After 15 years as the Mobile Financial Services & NFC Summit the event has been renamed as the Mobile Wallet & Retail Innovation event in 2014.
This change reflects the slow clarification of what has been a bit of a curate’s egg until now. Confusion around NFC and smartphone hardware, as well as just what it is that the consumer wants, has distracted from exciting potential of the mobile wallet as a tool to buy on mobile websites.
In 2013, merchant-specific payment apps were arguably more successful than broader mobile payment solutions. The Starbucks app is regularly cited as one of the biggest successes thus far, used for 10% of all transactions and providing the customer with an experience enhanced by rewards. The point being, the customer wants more than just quicker payment.
It's been another busy year on the Econsultancy blog and, thanks to a highly intelligent and attractive readership, we managed to pass 1m monthly pageviews for the first time.
Not that it's all about numbers, but it's good to have someone out there reading your painstakingly crafted articles.
The bad news is that, once again, I've missed out on the top spot, third was the best I could manage.
So here's a round-up of some of the most popular posts written by the Econsultancy team this year (see here for our top guest posts). Posts are ranked by number of page views.
It's been another busy year for ecommerce, with one of the key themes being the widespread adoption of responsive design.
But have retailers finally gotten to grips with mobile, or is there still much to be done? I lean towards the latter as, though some brands provide an excellent mobile experience, many are still woeful.
I've asked our ecommerce experts, agency and client-side, for their views...
I've listed these according to the number of pageviews, though it's not all about quantity, and some excellent posts just missed out on this list.
I'd also like to say a big thank-you to all of Econsultancy's guest bloggers for their valuable contributions to the blog this year on a range of subjects.