Studies show that integrating rich content into retail websites increases sales. That may seem intuitive, but is surprisingly often dismissed as unnecessary. Webcollage, a partner of WhyteSpyder, recently released that by adding rich content like videos, interactive product tours, lifestyle pics and comparison charts to a product page results in a 30% increase in sales conversions. Conversely, failure to take advantage of this opportunity leads to lost sales and first time customers clicking on to competitors sites.
Speed rules. The rate with which ecommerce can deliver information and a convincing purchase argument is unparalleled in the industry. A study conducted by Radware pointed out that no industry segment delivers faster load times that ecommerce sites. In fact, 57% of online shoppers stated they would abandon a webpage after waiting 3 seconds for it to load.1
“Assuming your site averages 100,000 visitors per day, with a 2% conversion rate and conversions averaging $54 each, you would ideally be looking at $108,000 in daily revenue. But, if 57% of your total visitors leave, that equates to a loss of $61,650 daily, or $22,469,400 annually.”2
Whether or not your product actually sells at $54 is irrelevant. The point is providing rich product content quickly is essential to your business.
The Radware study continued with, “for ecommerce, product images and information are necessary to encourage conversions…”3
The face of today’s shopper is changing. It may not be an actual “face” at all with increasing numbers of people utilizing smart phones, tablets and other devices to aid in their purchase decision. Some don’t want to visit a store at all. Almost the entire US population is online and 82% of Millennials use their mobile phones to make a purchase decision. This omnichannel shopper wants loads of information and they want it now.
1 StatCounter Global Browser Stats
2 KissMetrics, “How Loading Time Affects Your Bottom Line”
3 Radware 2016 State of the Union. Multi-Industry Desktop Web Performance