Ecommerce checkout is getting complicated and competitive. Consumers can choose a variety of checkout options. While this may be convenient, the question for retailers is, are you providing too many options and creating a source of friction that’s contributing to high bounce rates and cart abandonment? You need to simplify.
Too often, ecommerce marketplaces are looked at like a new feature, such as adding search capability. Thus, the marketplace project is not set up to overtake the main business, but pitched as a 12-24-month project to so many vendors.. The perspective is inside out. It’s rarely done outside in, from a customer-first point of view.
With new tool and technology, retailers and brands – and increasingly, affinity-based communities or organizations – are finding it easier than ever to launch ecommerce marketplaces. This report explores how affinity-based groups are empowering makers and creating an environment of shared experiences and passions.
Alarmed at the rising tide of BNPL debt, governments on both sides of the Atlantic are drawing up new rules to safeguard shoppers. As it stands, however, buyers unable to meet monthly payments have little in the way of support. This is where the threat of friendly fraud comes in.
Given that one extra second of load time may reduce conversions by more than 4%, such problems can be critical to your success. Therefore, if you’re running a Magento store, make sure you’re able to withstand the load and deliver a quality customer experience even when traffic spikes occur.
Bed Bath & Beyond has come to terms with activist investor Ryan Cohen and his firm RC Ventures, agreeing to add three board members put forward by Cohen in exchange for a “standstill agreement” that RC Ventures won’t seeking a doubling of its interest in the retailer.
CommerceIQ, a startup with a platform that allows major CPG brands to manage their ecommerce sales into retailers and marketplaces, has crossed the unicorn line with the closing of a $115 million Series D funding, bringing the company’s total valuation to more than $1 billion.
As Kohl’s management considers acquisition offers from 20+ potential suitors, one has emerged at the head of the pack, according to a report in the New York Post: Canadian retailer Hudson’s Bay Co., owner of Saks Fifth Avenue and the eponymous retail chain. A decision will likely be announced at a May 11 shareholder meeting.
Fortia Group is pursing a vacant corner of the brand aggregator market, launching a new financing syndicate that gives entrepreneurs who have exited their ecommerce business an opportunity to invest in aggregators and reap the rewards of their growth.
While ecommerce conversion rate optimization may seem daunting at first, by designing solutions that align with our psychology, we can make it easier for people to do things they already want to do. Marketers who apply the following 5 principles to ecommerce websites are poised to increase ecommerce conversion.