Based on personal experience, we all know that the speed of a website is one of the major determinants of the success of the site, especially e-commerce websites. Aside from the obvious factors that make people leave your website, there are numerous other things that will influence the behavior of your website shoppers.
If we examine deeply, most of the customer’s behaviors boil down to human psychology. The behaviors are always predictive in the sense. The moment you understand perfectly the reason behind how and why people navigate and interact online, you can easily design and develop your e-commerce website on those principles. Consumer psychology is an aspect that helps you get into the heads of consumers to figure out what they buy and why. The more e-commerce facts you know, the easier it is to build marketing campaigns that will appeal to your target demographic. This infographic can be the eye opener that you need to understand more of the e-commerce trends and take control of your marketing in a more effective way.
When it comes to e-commerce statistics, 2016 shows that there are some new changes. 96% of consumers find that videos are helpful when they make a purchase decision online. Another 93% of online shoppers find that the videos are also useful when comparison-shopping.
In terms of conversions, it’s possible to increase this percentage by 12.62% when you replace an image with the video. Further, 58% of customers make the assumption that a company that produces a video is considered more trustworthy. This means that it can be absolutely advantageous to implement video marketing across your website.
E-commerce statistics in 2016 also show that people still shop with their eyes. 93% of consumers consider the visual appearance of the website to be the key deciding factor over whether they make a purchase or not. 42% of users will base their opinion on the website design alone. If a person doesn’t like the overall aesthetics of the website, it has been shown that approximately 52% of shoppers will abandon the site and not return. Color has also been identified as a primary reason for choosing a product.
Understanding some of the different e-commerce trends can help with making better decisions about how to create a website and what features to include. For example, when there is PayPal express checkout, a 15% increase has been seen in the total amount that a consumer will spend. FreshGigs also reported a 15% increase in their checkout process by making it possible for people to pay with American Express.
PayPal and other similar alternative payments are predominantly popular with the 25 to 34 age range. If this age range is part of your target demographic, it’s important to realize these e-commerce facts. The 35 to 44 age group prefers to use a debit card while the 65 and older age group prefer to pay using a credit card.
There are still approximately 24% of consumers who refuse to shop online due to the fear of online fraud. When a Norton secured seal is placed strategically on a website, sales can improve by 11%. If there is no trust seal in place, it has been estimated that approximately 61% of online shoppers will not follow through on the purchase.
It’s also important to look at what kind of customer service is being offered and consumer psychology research has been surprising. Even though many websites are offering email and online chat, 57% of online shoppers still prefer to use a phone as a way of contacting vendors. Further, 76% of online shoppers identify customer service as the best test to see how much your brand values their business.
Ez texting was able to increase conversion by 31% by adding a live chat feature to their website. 68% of American online shoppers say they engage in live chat. Further, 63% of those same shoppers prefer to do business for a second time with the website that offers live chat.
Approximately 27% of the young millennials will not try to resolve any kind of customer experience failure. This is compared to 13% of baby boomers. This is an interesting revelation because poor customer service may not be identified by the company if people are not looking to resolve the issue. It’s possible that the millennials will simply leave a poor review or talk negatively on social media.
Surveys show that people are reading online reviews more frequently. In 2014, 80% of consumers read online reviews and it is up to 92% in 2015. 40% of the consumers has said they form an opinion about a brand by reading only one to three reviews.
Customer testimonials added to a website has the ability to increase conversion by 34%. Approximately 29% of consumers find testimonials to be important when a company is trying to build credibility. Further, if the testimonials are placed on a lead generation page, conversions are increased by 50%.
Mobile optimization is one of the biggest e-commerce trends right now. 70% of shoppers will use their mobile device to look for a better price elsewhere if you do not have a mobile app , try looking for best rated mobile apps. Additionally, 75% of smartphone users will abandon a website if it isn’t mobile optimized. This being said, 84% of US adults have experienced difficulty completing mobile transactions, which demonstrates that there are still many websites that are not properly optimized for mobile devices.
Understanding consumer psychology is absolutely critical. It can help to determine how people view coupons and discounts, free shipping offers, website design, and so many other aspects of providing a quality shopping experience. Therefore, we gathered 65 proven statistics from major research studies and business publications and presented them in this infographic to demonstrate 20 key factors that determine a consumer behavior in e-commerce.
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