5 Spooky eCommerce Problems and How to Keep Them From Haunting Your Webstore
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5 & how to keep them from haunting your webstore Spooky Ecommerce Problems Less than 1,000 unique visitors per week is “low traffic” 95% of websites get less than 30 visitors per day Average conversion rates range between 2% and 5% The top 10% of retail- ers have an average conversion rate of 11.45% 1. LOW Roi low Traffic low conversions 2. Inventory 45 - 90% of all business costs come from inventory The typical cost of carrying inventory is 10% of the total value of a given item 77% of shoppers will leave a website if they can’t find a product they want SEO Optimize your site to increase traffic A/B testing A/B test your layouts The solution... GAP ANALYSIS Learn what your competitors are selling that you’re not DATA Data can tell you what sells well and what you should liquidate The solution... The costs of having the wrong inventory Bad data costs US businesses $600 billion annually Most companies only analyze 12% of the data they mine collect Gather data directly from transactions analyze Make decisions based on robust analytics The solution... POORLY GATHERED AND ANALYZED Using data to its full potential could increase operating margins by 60% 4. BEING UNDERCUT dynamic pricing Manual price changes are impossible, dynamic pricing can help you keep up sales boost Adopting dynamic pricing software can increase sales revenue by 22% on average The solution... 5. outdated technology Don’t let scary ecommerce issues hold your profits back. Wiser can help. 0 0 1 0 1 0 1 1 1 0 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 LOW ROI POOR data missing inventory Online retail can be tricky and sometimes downright scary. Here are the top 5 fears in online retail and how you can keep them away better than garlic repels vampires. Bad data can cost 10 - 25% of a company’s revenue 1 0 1 1 1 1 0 0 1 0 0 1 1 1 0 0 0 1 1 1 0 0 1 1 0 1 1 0 $ $ $ 11.45% Sources: Moz, Deloitte, Forrester Research, eDigitalResearch 2-5% WWW.WISER.COM 1.855.GOWISER [email protected] 3. big bad data % % % % What new technologies should you adopt? inventory management software Golfio reported an 87.5% improvement in order fulfillment time using inventory management software of apparel retailers rate themselves average or below average in inventory management 70% 87.5% Live Chat of shoppers expect live chat to be an option 30% of live chat users were "extremely satisfied" or "satisfied" 73% Price optimization software increases margins by 10% Amazon reprices every 10-15 minutes 10-15 min 10% repricing software keep up with the competition Best Buy and Walmart implement price changes over 50,000 times per month 84% of consumers list price as the largest influencer on purchasing decisions Sears repriced 25% of its products daily during the 2012 holiday season $59.99 $
description
There are many creepy problems that plague online stores. From low ROI to having the wrong inventory, there are many solutions that can boost conversions, traffic, and more. Wiser's new infographic has the top ways to address the biggest and baddest issues that keep online retailers up at night.
Transcript of 5 Spooky eCommerce Problems and How to Keep Them From Haunting Your Webstore
5 & how to keep them from haunting your webstoreSpooky Ecommerce Problems
Less than 1,000
unique visitors per
week is “low tra�c”
95% of websites
get less than 30
visitors per day
Average conversion
rates range
between 2% and 5%
The top 10% of retail-
ers have an average
conversion rate of
11.45%
1 . LOW Roi
The costs of having the wrong inventory
low Traffic low conversions
2 . Inventory
45 - 90% of all
business costs come
from inventory
The typical cost of
carrying inventory is 10%
of the total value of a
given item
77% of shoppers will leave
a website if they can’t find
a product they want
SEOOptimize your site to
increase tra�c
A/B testingA/B test your layouts
The solution. . .
GAP ANALYSISLearn what your competitors
are selling that you’re not
DATAData can tell you what sells
well and what you should
liquidate
The solution. . .
The costs of having the wrong inventory
The costs of having the wrong inventory
Bad data costs US
businesses $600
billion annually
Most companies
only analyze 12%
of the data they
mine
collectGather data directly from
transactions
analyzeMake decisions based
on robust analytics
The solution. . .
POORLY GATHERED AND ANALYZED
Using data to its full
potential could
increase operating
margins by 60%
4. BEING UNDERCUT
dynamic pricingManual price changes are
impossible, dynamic pricing
can help you keep up
sales boostAdopting dynamic pricing
software can increase sales
revenue by 22% on average
The solution. . .
5 . outdated technology
Don’t let scary ecommerce issues hold your profits back.
Wiser can help .
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LOWROI
POORdata
missinginventory
Online retail can be tricky and sometimes downright scary. Here are the top 5 fears in
online retail and how you can keep them away better than garlic repels vampires.
Bad data can cost
10 - 25% of a
company’s
revenue
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$ $
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11 .45%
Sources:
Moz, Deloitte,
Forrester Research,
eDigitalResearch
2-5%
WWW.WISER.COM
1.855.GOWISER
3. big bad data% %
%
%
What new technologies should you adopt?
inventory management software
Golfio reported an 87.5%
improvement in order
fulfillment time using inventory
management software
of apparel retailers rate
themselves average or below
average in inventory
management
70% 87.5%
Live Chat
of shoppers expect
live chat to be an
option
30%of live chat users were
"extremely satisfied" or
"satisfied"
73%
Price optimization
software increases
margins by 10%
Amazon reprices
every 10-15 minutes
10-15 min 10%
repricing software
keep up with the competition
Best Buy and Walmart
implement price changes
over 50,000 times per
month
84% of consumers list
price as the largest
influencer on purchasing
decisions
Sears repriced 25%
of its products daily
during the 2012
holiday season
$59.99 $
