3 Features That'll Boost Your eCommerce Website
AUG, 16, 2024 16:50 PM
Since 2020, eCommerce has been a booming industry that large and small businesses have eagerly participated in.
In 2023, US eCommerce sales raked in just under $1.2 trillion. Unfortunately, due to the marketplace being oversaturated and the resumption of physical sales, making the most of eCommerce is not as simple as it was a few years ago. Forbes estimates that up to 90% of eCommerce brands now fail within the first four months following their launch.
While this is more likely to happen to SMEs with limited funding and resources, bigger eCommerce companies are not exempted. Such is the case with Farfetch, a luxury eCommerce group that sells high-end clothes . Despite having a valuation of over $6 billion when it entered the stock market in 2018, the company has been struggling, and its share value has dropped by 97%. Fortunately, there are ways for you to safeguard your consumer appeal, thereby preventing losses and shutdowns. Read on to learn about eCommerce features your business and your consumers will appreciate.
On average, online consumers return around 16% of their purchases. In line with this, a Coveo survey found that the leading cause of these returns is an incorrect size or bad fit. Sadly, these returns can be seriously costly for businesses, with experts noting that the overall cost of returns across the US amounts to over $200 billion. To prevent your business from becoming negatively impacted by unnecessary returns, consider adding a virtual try-on feature to your site.
This technology allows customers to see how an item looks on their face in real-time, as you can see on glasses retailer Eyebuydirect’s website. This means potential buyers can explore a variety of styles, ranging from retro to future classics, from a selection of brands such as Ray-Ban and Coach from the comfort of their own homes. Using just the customer’s device, virtual try-on tech scans a person’s face using either the device camera or an existing image in the user’s gallery. From here, AR innovations overlay the chosen item in the correct scale over the user’s face. It helps customers better understand how an item will look on them, ensuring they’re more satisfied and less likely to send back what they’ve ordered.
Surveys have found that one of the leading reasons people like shopping online is the convenience brought on by low-cost shipping. Alternatively, a report by the US Chamber of Commerce states that higher shipping fees are a top cause of cart abandonment . With this in mind, you might want to offer free shipping on your site. Doing so has been found to be an effective method of attracting new customers and improving loyalty among current patrons. Moreover, this can enhance sales conversions and site traffic.
That said, before you start offering free shipping, ensure that your site clearly outlines the terms and conditions. This includes how long a potential delivery may take, which is a pain point many eCommerce shoppers struggle with. In order to better roll out free shipping options, you can take your cue from fast fashion giant Shein. To prevent impacting their profit margins and to manage the number of customers availing of their free shipping option, they require customers to hit a certain purchase amount first. By doing the same, you can still enjoy the customer acclaim that offering free shipping brings without having to overburden yourself or your business.
Many online shoppers are concerned about the lack of product information on some eCommerce sites. Among shoppers who are buying high-ticket items, this lack of information can deter them from completing the transaction, as they might feel like their money is better spent in a brick-and-mortar store where real-life attendants can answer queries. In fact, 70% of respondents on a Prosper Insights & Analytics survey said product content could make or break their decision to push through with a sale.
To not only keep customers but also encourage them to seal the deal, try creating product videos that introduce and even demonstrate your items. As mentioned in a previous post on our blog , video content is extremely effective. For instance, statistics show that videos can increase conversions by 80%. Additionally, 84% of consumers said they felt persuaded to make a purchase after viewing a brand video. The good news is that these videos need not be complicated or expensive. What’s important is that your video is engaging, simple, and enjoyable. For instance, whenever makeup brand Milk Makeup releases a new product and then premieres a video on YouTube. The videos are shot against a white background with just a single presenter. The videos are short and sweet, but they clearly highlight the usability and selling points of what they’re promoting.
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