Transcript

5 Spooky eCommerce Problems & How to Keep Them From Haunting Your Webstore

SPOOKY ECOMMERCE PROBLEMS & HOW TO KEEP THEM FROM HAUNTING YOUR WEBSTORE MISSING INVENTORY LOW ROI POOR DATA Online retail can be tricky and sometimes downright scary. Here are the top 5 fears in online retail and how you can keep them away better than garlic repels vampires. 1. LOW ROI LOW TRAFFIC LOW CONVERSIONS 11.45% Average conversion The top 10% of retail- 95% of websites Less than 1,000 rates range ers have an average get less than 30 unique visitors per between 2% and 5% conversion rate of visitors per day week is "low traffic" 11.45% THE SOLUTION.. SEO A/B TESTING Optimize your site to increase traffic A/B test your layouts 2. INVENTORY THE COSTS OF HAVING THE WRONG INVENTORY 45 - 90% of al| The typical cost of 77% of shoppers will leave if they can't find a product carrying Inventory is 10% of the total value of a business costs come from inventory they want on a retailer's glven item website THE SOLUTION.. GAP ANALYSIS DATA 1 11010 Learn what your competitors are selling that you're not Data can tell you what sells b 101 1 C well and what you should liquidate 3. BIG BAD DATA POORLY GATHERED AND ANALYZED Using data to Its full Bad data costs US Most companies Bad data can cost 10 - 25% of a businesses $600 billon annually potentlal, could only analyze 12% of the data they increase operating company's reve- margins by 60% mine nue THE SOLUTIO.. 011010 COLLECT ANALYZE Gather data directly from Make decisions based transactions on robust analytics 4. BEING UNDERCUT KEEP UP WITH THE COMPETITION $53.99 Best Buy and Walmart 84% of consumers list Sears repriced 25% of its products daily implement price changes over 50,000 times per price as the largest influencer on purchasing during the 2012 holiday season month decisions THE SOLUTION.. DYNAMIC PRICING SALES BOOST Manual price changes are impossible, dynamic pricing Adopting dynamic pricing software can increase sales can help you keep up revenue by 22% on average 5. OUTDATED TECHNOLOGY But what new technologies should you adopt? LIVE CHAT 30% 73% of shoppers expect 73% of live chat users live chat to be an were "extremely satisfied" or "satisfied" option REPRICING SOFTWARE 18-15 MIN 10% Amazon reprices Price optimization every 10-15 minutes software increases margins by 10% INVENTORY MANAGEMENT SOFTWARE 70% 20-50% employing analytical tools can improve of apparel retailers rate themselves average or below average on their inventory inventory levels between management process 20 and 50% DON'T LET SCARY ECOMMERCE ISSUES HOLD YOUR PROFITS BACK. WISER'S SOLUTIONS CAN HELP. WiseAssortment WisePricer Sources: www.WISER.COM Moz, Deloitte, 1.855.GOWISER Forrester Research, INFO@WISER.COM eDigitalResearch

5 Spooky eCommerce Problems & How to Keep Them From Haunting Your Webstore

shared by natalieschochwp on Feb 03
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It’s an online retailer’s worst nightmare: a haunted webstore. Plagued with low traffic and conversion rates, products that don’t go bump in the night (or at all), an abandoned cart graveyard? M...

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Wiser

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Natalie Schoch

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Business
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