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Coremetrics: Online shoppers with short attention spans demand fast, relevant online experience
I won't scare you with a countdown to Christmas but, needless to say, it's looming and online retailers who want to make it a profitable holiday season need to ensure they are giving consumers the shopping experience they demand or risk losing sales.
The key elements driving today's online shoppers are relevancy, personalization, and speed, suggests Coremetrics' latest Online Retail Holiday Readiness Report.
Consumer's attention spans are diminishing and online retailers are faced with a shrinking window of opportunity in which to engage and guide site visitors to order placement.
Websites must grab the attention of visitors, encourage them to stay and seamlessly, and quickly, drive them through to order completion if they are to stand any chance of securing a sale.
Key points from the report that illustrate today's "surgical shopping" approach include:
- Browsing sessions currently average just seven minutes, down from as much as 10 minutes in 2007-2008, and as much as 8 minutes in 2008-2009
- Consumers are engaging in "surgical shopping," zeroing in quickly on the items they want
- The bounce rate - the percentage of single-page sessions - is up substantially sitting at a high of about 35% in May, 2010, compared with less than 25% in June, 2008.
- The number of website visits driven by clicks on paid search and display ads is increasing leading to more visitors arriving at websites via landing pages rather than the homepage
- Average order value is up strongly year over year, from a low of around $120 in June, 2008, to more than $190 in May, 2010.
The report also points out how important it is for online retailers to consider the ever-increasing number of shopping options available to consumers. Social media marketing, mobile marketing/apps and re-targeting shoppers with personalized messages are all crucial to keeping consumers engaged and brands front-of-mind.
According to Coremetrics, "Increasing use of both social media and mobile devices is commanding a greater share of time online. Retailers need to capitalize on both the social media and mobile phenomenon by leveraging these fast-growing channels this holiday season."
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- 65% of shoppers still rely on visits to physical stores during online shopping journey
- Internet ad revenues hit landmark high in first half of 2014
- Report: Product placements can recoup commercial losses
- Study highlights consumer behavior in tablet purchase journey
- Britain leads Europe's online shopping boom
- YouGov: Mobile commerce confidence grows among consumers
- Study finds the moments ads will most likely garner attention
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