Ecommerce Psychology – Online Consumer Behaviours & Statistics 2020
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It is undeniably hard for any ecommerce business and online retailers to accurately predict the shopping habits and behaviours of the average online consumer.
Drastically reducing bounce rate and cart abandonment rate are two of the major goals of any online shopping site but this can only be achieved when they have cracked the ecommerce psychology and know the collective behaviours of their prospective customers.
So basically; knowing and understanding the psychology of online shoppers can hugely impact the of every ecommerce business.
In that case, iUsecoupon team of analysts conducted a research on online consumer behaviours to help retailers better understand the habits of an average online shopper.
The information presented in this infograph will help you discover the influence of some factors like your site speed, product and seller reviews, site design, payment methods and more.
An average online shopper will only wait three seconds for your product page to load, 62% of them will leave your site if it takes more than 3 seconds to load, costing you more than half of your potential customers.
Over 70% of them will choose not to return to you site as a result this, nobody enjoys a site that drag it’s heels. You can easily avoid this by optimizing your site speed, this may sound very negligible but it has a huge influence on online consumers.
According to our research, having more product images and videos can increase web sales by 55%, consumers want to see more of what they want to purchase so they can be sure of their decision. 91.3% said their purchase decision mostly influenced by the product visuals.
It’s all about making the product more visually appealing, it only takes 90 seconds for an average online buyer to assess a product. Their first impression on whether or not to buy the product will be made within this time so basically, first impression matters when it comes to online shopping.
It is also advisable to accurately depict your product through images, videos as well as product description, 48% of returns is as a result of product not being what the seller described.
Coupons are getting more attention when it comes to online shopping as 62.8% of online shopper in 2020 redeem a coupon code during checkout. Coupons can result to 11% increase in customer satisfaction rate, this is a proof of how beneficial coupons can be to both consumers and retailers.
When it comes to online shopping, seller rating and user reviews by existing customers have a influence on customer’s decision. Products with positive user reviews will get 44% more conversions.
It is also important to note that 82% of online consumers will read the seller’s rating and reviews before purchasing any of their products and 69% of them will take these reviews as a personal recommendation.
Getting good ratings and reviews can only be achieved by making your customers happy with quality products, timely delivery and good customer support.
There are many different factors at play when it comes to ecommerce so it pays to do a good research. Our information about ecommerce consumer psychology and behaviour can help you implement good strategies for higher conversion rate and reduced cart abandonment rate.
Public use
Would you like to share our data on the price of internet in Spain and in the world? You can freely use the data and infographics presented in the text for both commercial and non-commercial purposes. We only ask that you indicate the author of the study ( iUseCoupon.com ) along with a link to this subpage.
