Better e-commerce strategies 'worth £2.3bn'
E-commerce
29 September 2008
Improving e-commerce strategies to net shoppers who abandon their shopping carts could generate an extra £2.3 billion in collective annual revenue.
This is the conclusion of a new study conducted by Verdict Consulting for Webloyalty, which suggested that converting one per cent more website visitors into customers could bring an extra £678 million of sales revenue alone.
E-retailers looking to convert these web users should focus on identifying and eliminating key obstacles to purchases, such as delivery concerns and dissatisfaction with postage charges, the report indicated.
"[Online retailers] need to be more creative about customer acquisition. Old methods of driving traffic still have their place, but are increasingly being replaced by new strategies," commented Neil Saunders, consulting director at Verdict.
Online spending was 15.1 per cent higher in August compared with the same month last year, according to recent figures from the IMRG Capgemini e-Retail Sales Index.
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