There's a great unrealised potential in e-Commerce by offering a more personalised and improved shopping experience to customers. That is the conclusion of our analysis of 42 Danish webshops.
But this year we will also be giving a presentation, as the program focuses particularly on conversion optimisation in e-Commerce.
And for that reason, we have decided to prepare by taking the pulse on e-Commerce in Denmark and how Danish webshops are currently optimised to apply personalisation strategies as a way of converting and up-selling customers.
From analysing the search functionality and product recommendations on the 42 webshops attending the ConversionBoost conference, we found a potential for additional sales of 14%
We can still be better at recommending products
By looking at the placement and quality of recommendations alone, we have found that the webshops analysed could increase sales with 9,86% on average by looking more into how they present and recommend products to customers.
The reasons behind this number primarily rest on a few crucial factors:
- 37 of 42 webshops don't have a fully implemented power step.
By looking at that power step alone, the webshops analysed could increase sales with 3,20% by giving their customers a better opportunity to place more products in the basket before checking out.
- 32 of 42 webshops have no or a very sparse display of alternatives on the product pages.
The webshops analysed could increase sales with 2,60% just by giving customers more options on this important stage of the shopping journey, where customers often decide whether or not to buy.
- No less that 39 out of 42 webshops don't fully present the most popular products on their category pages.
This is important, as it helps customers to quickly find the products they are most likely to be looking for and reassures them of the popularity of key items. For that same reason, the webshops analysed stand to increase their sales with 2,05% on average by better presenting most popular products on the category pages.
Still work to do, when it comes to onsite search
Making it easier for customers to easily find the products they are looking for by searching (and even making it easier to find the search bar in the first place) can result in a 4,18% increase in sales on average for the 42 webshops analysed.
The defining factors for these numbers are:
- 27 out of 42 webshops have a search bar that is easy to find.
However, for the 15 remaining webshops it can be difficult for customers to even find the search function, which can have a (very) bad impact on the conversion rates. By looking at all the webshops, it is evident that a better exposure of the search bar can help increase sales with 1,48% on average.
- 27 out of 42 webshops have a search function with no or a poorly functioning live search feature.
The webshops analysed could increase sales with 1,20% on average by recommending relevant products as soon as the customers start searching.
- 33 out of 42 webshops have a search function that has difficulty handling search phrases containing spelling mistakes and/or typos.
This can be bad for conversion, as 26% of all search queries contain spelling mistakes. The webshops in our analysis can increase sales with 0,78% on average by optimising the spell checker in their search function.
That was the key figures from our analysis.
Much has happened, especially in the last few years, with regards to offering a better personalised shopping experience online.
...But as the numbers above indicate, there's still room to optimise even more to the benefit of both businesses and consumers.