7 Keys to Reduce Shopping Cart Abandonment and Increase Conversion Rate

Research  shows that the average shopping cart abandonment rate lies anywhere  between 60-70% and the major online retailers like Amazon, Flipkart have  conversion rates as low as 1-2%. Considering the recent spurt in the  e-commerce industry this is a dismal percentage. Given below are some common reasons for cart  abandonment and tips on how to reduce card abandonment and increase  conversion rate:

1.   Just Comparing Products

Majority  of the prospective customers use the internet to compare alternatives. A  third party verification seal such as an SSL certificate or a  HackerSafe seal represents credibility of the website and can help  convert the comparison shopper to a buyer.

2.   Insufficient Product Information

Provide  extensive product descriptions and images to help present the product  better to the customer. You can also provide cash on delivery or cash  back facility.

3.   Not Ready To Purchase /Wanted To Save Product For Later  Consideration

Allow  customers to bookmark products for future purchase. Increase the cookie  length and use a persistent shopping cart, which saves the contents of  the cart for a number of days. Let the customer know on the cart summary  page how long their cart details will be saved.

4.   Out Of Stock/Non Availability

Hide  a product/size/colour when the merchant's stock runs out or display the  current quantity of items in stock on the product page. This will  reduce any surprises for the customer when they reach the view cart  page.

5.   High Shipping Costs

Reduce  the shipping charges, even if it means that you have to absorb some of  the cost. Promotional messages like “Order for Rs 250 or more and get  Free Shipping” can be shown to encourage purchase. Also mention the  delivery time and the total cost so that there are no surprises at the  time of receipt.

6.   Technical Problems

The  website should be made compatible with all major browsers and operating  systems so that the visitor does not face any technical snags. Increase  your page load speed as slow loading pages normally lead the customer  to abandon their purchases.

7.   Lengthy Check Out Process

Do  not ask for unnecessary information at the time of registration. Offer  the option of completing registration after the transaction is complete  or before leaving check out process.

By
Shovana Sahu

                                                                                                                                            

                                                                                                                 

About Intentree

Intentree provides e-commerce optimization services using measurable & frugal usability, performance, security and functional techniques. To  know more visit us  @ http://www.intentree.com or Intentree : Introduction

6 Keys to Enhance Profitability of Your E-Commerce Business in India

India is a country with a booming economy, rapid growth of internet penetration, and a market of 1.2 billion. According to a report released by Com Score the E-commerce websites in India have experienced a 47% growth in unique hits from 2011 to 2012, from 26.1 million to 37.5 million.  From a volume perspective, the market has exploded, going from $2.5 billion in 2009 to $14 billion in 2012. Here are 6 keys to help you join the bandwagon and enhance the profitability of your e-commerce business in India:

1.     Sound E-Commerce Strategy

The first key for building a successful e-commerce business is to come up with a sound e-commerce strategy, that differentiates your business from the competitors and provides a unique value proposition to the customers.

2.     Enhanced Online Shopping Experience

The user should be provided with an enhanced shopping experience with improved usability, search and navigation features. You can also provide extensive product descriptions and 360° product view.

3.     Secure Online Payment System

Provide a secure online payment medium for all transactions. Third party verification such as SSL certificate or HackerSafe seal increases the confidence of the buyers on the online payment process.

4.     Credibility

All Online disclosures on behalf of the company should include complete and accurate information about the business, about the goods or services for sale and about how the transaction is made.

5.     Logistics and Supply Chain Management

A robust and well managed logistics and supply chain management system will increase agility, reduce transportation and storage costs for the company and ensure prompt delivery of the purchased merchandise to the customers.

6.     M-commerce

Integrate e-commerce with mobile network through mobile application, such that the customers can check promotions, product descriptions and reviews posted by past purchasers via their smart phones. Also make it easy for them to purchase via these devices with a seamless flow of payment and shipping information between the seller's e-commerce and m-commerce engines.

By 

Shovana Sahu

About Intentree

Intentree provides e-commerce optimization services using measurable & frugal usability, performance, security and functional techniques. To know more visit us @ http://www.intentree.com or Intentree : Introduction

The Indian E-Commerce Market is Poised for Rapid Growth

India’s e-commerce market is at an early stage but is expected to see a huge growth over the next four to five years. According to a research by Forrester, a research and advisory firm, the e-commerce market in India is set to grow the fastest within the Asia-Pacific Region at a CAGR of over 57% between 2012-16.

Also, the latest report generated by the industry body ASSOCHAM and research company ComScore, says that the online retail penetration in e-commerce in India has increased to 60%, and has grown to 37.5 million from 26.1 million unique visitors a month, which means an overall growth of 43% annually.

The growth has come across all retail categories and most of them show promising transactions and conversion rates along with a growth in online visitors. The top retail sites in India such as Amazon, Flipkart, Snapdeal have each had a growth of over 100% in the last 12 months. This shows the immense potential that the retail category holds in India. Over the past 12 months, venture capitalists have invested heavily in India’s e-commerce market, new players have emerged, and the e-commerce ecosystem has developed, presenting a huge opportunity for companies willing to work through some of the logistics and payments challenges in India.

The Indian shoppers are increasingly discovering buying items with just a click of the mouse. Online movie ticket booking websites and travel booking websites are very popular among the Indian online customers. The Indian railways ticket website, IRCTC is used by almost one in five of the country's web users, says the research company Comscore. The retail websites are also fast catching up as more people are purchasing apparels, home appliances and electronic items online.

India can expect to witness a major change in its e-commerce market in the next couple of years because there will be an entire generation that has grown up with internet at home and school ready to spend online by 2015 or so. For this generation, internet is the first point of contact and online shopping is a means of convenience. This is in contrast to those who have had to make a transition to working on the internet, having not been exposed to it while growing up.

Currently, India is the third largest internet user country in the world after US and China. As of now, the e-commerce sales value, excluding travel bookings, is less than 1 per cent of the total pie of an estimated $500 billion retail sale in the country. This works out to less than $5 billion. The projection is that e-commerce in India will grow to $15 billion by the year 2015.

Thus to conclude, we can say that the Indian e-commerce industry is going to flourish with the rising demand from consumers and increasing penetration of technology. Models like Cash on Delivery, improved logistics, payment options and service quality will boost the Indian e-commerce market. In the coming years India will be put on the global map as one of the largest e-commerce markets.

By

Shovana Sahu

About Intentree

Intentree provides e-commerce optimization services using measurable & frugal usability, performance, security and functional techniques. To know more visit us @ www.intentree.com or http://www.slideshare.net/intentree/intentree-introduction