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The Psychology of the eCommerce buyer

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Page 1: The Psychology of the eCommerce buyer

This year, more than half of US adult

internet users will redeem a digital

coupon via any device for either online

or offline shopping.

US adult digital coupon users:

http://www.dailymail.co.uk

http://www.brightlocal.com

http://www.bizrateinsights.com

http://blog.cleverbridge.com

http://newrelic.com

http://www.polr.co.uk

http://www.webshaper.com

http://www.strangeloopnet-works.com

http://www.webcredible.co.uk

http://econsultancy.com

http://www.emarketer.com

http://blog.compete.com

http://www.internetratailer.com

http://www.zeroabove.co.uk

http://baymard.com

http://blog.compete.com

http://www.amaze.com

http://blog.idealo.co.uk

http://uxdesign.smashingmagazine.com

80%MORE THAN

of consumers feel safer seeingtrustworthy card logos prominently

displayed within an online store.

PAYMENT OPTIONS:

of respondents would

have more confidence in an

online shop that had more than

one payment method.

will abandon a transaction

if their preferred payment

method is not in place.

Most popular payment gateways

Paypal Authorize.net USA ePay

Paypal processes 60% of total web transactions making it the

most popular payment gateway.

59%of consumers say they consider shipping costs

when making online purchase decisions.

Cost of Shipping:% that abandon cart due to

high shipping costs

% that say low-cost shipping is a

reason to switch online retailers

Same day Delivery:

Important

Not Important

250

200

150

100

50

0

Note: ages 18+, internet users who redeemed a digital

coupon/code via any device for online or offline

shopping at least once duting the calendar year;

includes group buying coupons.

48.0% 52.0% 55.0% 57.5%

2012 2013 2014 2015

92.3

102.5

110.8

118.3

192.3

197.1

201.5

205.7

Adult Internet Users Adult Digital Coupon Users

Millions

40%

59%

COUPONS AND DEALS

SHIPPING

PAYMENT AND SECURITY

SOURCES

67.4%Average checkout abandonment rate

41%

Average rate of checkout abandonment from 22

different studies. Why were they abandoned?

A research study conducted polled over

1,200 online users, asking why they would

abandon an order when shopping online.

Hidden charges at

the checkout

29%Having to register

before buying

10%Lengthy

checkout

process

11%Unclear

delivery

details

8%Phone number not

provided on website

1% - Other

Why the lengthy checkout process?Registration5.08 steps is the average length of a

checkout process among the top 100

grossing e-commerce sites.

50% of e-commerce website will

ask for the same information twice.

24% require account registration.

• ASOS halved checkout abandonment rate

by adding a guest checkout option (2011). • E-commerce checkouts should have

no more than 5 steps maximum.

$

Newsletters:

81%of online retailers assume their

newsletter is a must have

(box pre-checked).

40%of consumers do not want to receive

newsletters which is why many hate

signing up for an account.

32%of online retailers will not inform their

consumers they are being automatically

added to the newsletter subscription.

Tips:

Clear call to action buttons - help guide

consumers through the process making the

next/continue/proceed buttons a clear size and colour.

Show checkout progress bar so consumers

know how far into the order process they are.

Simplicity - Keep the checkout design clear and

concise so consumers don’t become distracted.

Allow customer to use a back button to make

amendments to their order.

Categorization of those who abandon their cart:

MENare more likely

to abandon their

cart.

AGES 25-44are the worst

offenders, when it

comes to giving up

on a purchase.

42%of customers are

‘vague’ consumers

- those that need more

information

(from customer reviews etc).

42%are ‘cost consciouss’

who want to shop

around for

better prices.

16%are ‘window shoppers’

who have no intention

of making a purchase

and are just looking.

18

57% DISCOUNT CODE

who used a coupon code said that if they

had not received the discount, they

would not have bought the item(s).

4% SATISFACTION RATE

Coupons can increase

customer satisfaction.

(4% rise in satisfaction rate)

44%

53%

24%76%

Try PinnacleCart for free at

http://www.pinnaclecart.com

OF THOSE79% trust the reviews

as much as a personal

recommendation.

85%of consumers read

online reviews for

local businesses

before making a

purchase.

67%of consumers read 6 reviews or less before

they feel they can trust

a business enough to

make a purchase.

92.6%of people said that the visuals arethe top influential factor affectinga purchase decision.

General Design:

Product Imagery and Videos:

Products are assessed

within 90 seconds and a quick

initial judgement is made whether to

make a puchase

or not.

Offering multiple product

views and other alternative

images lead to 58% moreweb sales.

But

Reason for Return: 25% cited

‘product not what

I was expecting.’

It’s important to have

accurate product images.

bought the product after

being influenced by the video.

customers have more confidence in aproduct after watching an onlone video.

Attitudes toward online product videos accordingto US internet users, 2014 & 2015

More confident when I watch a product video in advance of making

a purchase online and therefore less likely to return that product.

Willing to stay on a website longer because the retailer

or brand manufacture makes product videos available to me.

More likely to return to a retailer who integrates video into

their website experience.

Purchase more products on websites that allow me to learn

about products via video.

2014 2015

57%

52%

52%

45%

45%

41%

44%

37%

0% 10% 20% 30% 40% 50% 60%

Best Camera

31%1 in 2

85%

After waiting...

1... 2... 3... seconds...

57%of online

consumers

will abandon

a site.

80%of these consumers

will never return.

SITE SPEED

The PSYCHOLOGY

BUYER

ECOMMERCE DESIGN

PRODUCT REVIEWS

Review 1

Review 2

Review 3

Review 4

Review 5

Review 6

CHECKOUT ABANDONMENT STATISTICS

of eCOMMERCE