Novel behavioural challenges for e-commerce players
Although mobile traffic to e-commerce sites is very high, actual sales through it lag those via desktop net-access (Photo: iStock)
Let the minds of smartphone shoppers guide how to reduce high rates of purchase abandonment
The e-commerce business gained lot of momentum during the covid pandemic. Two industry reports, The State of Ecommerce 2021, a study by Catalyst and Kantar, and Commerce Stats & Trends Report 2021 by SalesCycle provide some interesting insights on e-commerce and also focuses on some of its significant challenges.
In 2020, global retail e-commerce sales reached over $3.9 trillion worldwide, a 10.2% increase over 2019. Perhaps the most notable recent trend in the world of e-commerce is the unprecedented use of mobile devices. In the third quarter of 2020, smartphones accounted for over half the world’s website traffic. The disparity between desktop and mobile traffic around the globe is more than double in favour of mobiles in every country apart from those in North America.
Although mobile traffic to e-commerce sites is very high, actual sales through it lag those via desktop net-access. This low conversation rate through the smartphone is an area of concern. The nature of interaction a person has with her or his smartphone is quite different from the way s/he interacts with a desktop. The smartphone is always with you, you interact with it very frequently, but these interactions are of very short duration. To improve the conversation rate of e-commerce through handsets, marketers must develop a deep understanding of an individual’s relationship with this gadget. This knowledge should be the foundation on which appropriate persuasion stimuli are developed for smartphone users.
Studies show that shoppers are more likely to buy online on Wednesday, Thursday and Friday. Saturday saw the biggest dip in online sales volume. This insight is in line with some of […]
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