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Stat Watch: Consumers & Conversions are Hooked on a Feeling

IBF Entrepreneur Online –

E-commerce will be a $4.479 trillion market by 2020 according to eMarketer – or enough dollar bills to stretch from the earth to the moon and then some. With a solar system of money up for grabs, retailers will need to account for a somewhat unexpected part of the digital journey: consumers’ feelings.

Subjective, yes, but how consumers ‘feel’ about their online experience or a brand is the intangible – and often forgotten – element of whether a merchant gets a sale or not. In fact, a new global survey out of Episerver found that when feelings are accounted for, revenue is as well (particularly when it comes to personalization).

Like the offline world, people want to be remembered and feel let down when they are not, despite having enough interactions to establish some context to a relationship. Online, over a third of shoppers (35 percent) now feel brands do not care enough about personalizing their shopping experiences, causing them to feel disappointed (32 percent), frustrated (16 percent) and distrustful (12 percent) – according to Episerver’s “Reimagining Commerce” report. With so much work being done to gain trust in online interactions (e.g., trust seals, reviews), retailers cannot afford to lose trust when information is readily available about a consumer’s shopping intent and behaviors.

Where feelings become objective is how a brand’s willingness to care equates to sales. Episerver indicates that when a brand personalizes experiences, a quarter of shoppers are more likely to purchase from the brand again, 20 percent are more loyal and 20 percent trust the brand more. “Shoppers have quickly learned that if one retail site is failing to deliver the experience they expect (including personalizing it), they will find another that does,” said Ed Kennedy, senior director of commerce at Episerver.

“Customers are clearly in charge, and their feelings about a brand and the experience it provides counts in the form of conversions.”

Interesting Stats from Website Magazine April 2018 Stat Watch

+ Almost half of U.S. consumers (45 percent) start their product searches on Amazon first. (PwC, 2017)

+ Nearly a quarter of American shoppers (21 percent) state that unattractive or hard-to-navigate websites are frustrating when buying online. (BigCommerce, 2018)

+ Just 17 percent of people say that making a purchase is their primary purpose for visiting a brand’s website for the first time. Rather, shoppers are going online to search for (35 percent) and compare (29 percent) products/services. (Episerver, 2018)

+ Roughly a quarter (24 percent) of American consumers do not think mobile sites are easy to use. (PwC, 2017)

+ Retailers that operate a shopping app see 50 percent of online sales take place on mobile. (Criteo, 2018)

Source: Website Mag

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