The average conversion rate in the e-commerce industry is a mere 2%. This statistic may seem puzzling, especially when considering the convenience and accessibility of online shopping. However, the user experience on many major e-commerce platforms may provide some insight into this low figure.
Many large e-commerce platforms are notorious for their slow loading times, often due to an overload of graphics. Once the site finally loads, the purchasing process can be frustratingly complex. Consumers who are ready to buy often struggle to locate the product they want, and then have to navigate through multiple pages to complete their purchase.
The frustration doesn't end with the purchase. If a product doesn't arrive on time, or at all, customer service can be slow to respond. In some cases, the product may have been out of stock at the time of purchase, but the website wasn't updated in time to reflect this.
Trust is a crucial factor in e-commerce. If a site doesn't provide a contact email or phone number, many consumers will refuse to purchase from them. Concerns about credit card information being stolen or sold also deter many potential customers. To alleviate these fears, look for sites that use secure server pages, such as those with Verisign, Icop, Etrust, or Paypal.
Despite these issues, there is potential for improvement. If major e-commerce sites can learn from their smaller counterparts, who often provide a more user-friendly experience and superior customer service, the 2% conversion rate could easily double or more.
One of the reasons smaller sites struggle to convert customers is a lack of recognition. However, this can be overcome by providing a reason for customers to return, such as offering a unique product or service. Collecting email addresses and providing incentives for return visits can also help build trust.
In conclusion, while the 2% conversion rate may seem low, there is significant potential for improvement. By focusing on user experience, customer service, and building trust, e-commerce sites can increase their conversion rates and ultimately, their success.
For more insights, check out Smart Business Mag's article comparing and testing 20 major sites. You can also find customer reviews and ratings on sites like Planet Feedback, Epinions, Bizrate, and Ecomplaints.
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