Consumer Psychology and the eCommerce Checkout
Every eCommerce business and online retailer will have nightmares and stress headaches trying to work out the shopping habits of the average online consumer. If we could tap into the collective thoughts of the purchasing public, we could entice them more effectively towards any sale, kill bounce rates dead and abandon checkout abandonment for good. Long story short, online shopping psychology can truly make – or break- a business.
A guy can dream, right?
Hopefully the following research put together by the vouchercloud team will help. By way of a handily designed infographic, you can now discover the influence of site speed, ecommerce design, product reviews, coupons and deals and security on a shoppers behaviour, assertions and purchasing patterns, and how eCommerce and web business can be saved on the implementation of each.
For example, a wait of only three seconds for a page to load will result in a loss of 57% of online consumers – in other words, half of your potential market will leave because your website dragged its heels. With 80% of those never returning to your website, you can be sure they’ll remember that wait as well (that goes especially for high-end household name brands like Apple and Nike, where a free delivery code can convert a user who could buy a high-ticket item elsewhere otherwise).
We’d be remiss to mention that coupons and discount codes can help do your business a favour too. Well over half of US internet users will redeem a coupon online, be it for online or offline shopping. 4% of shoppers even dedicate an increase in customer satisfaction based solely on a coupon, showing off the benefits of a free delivery code to long term returns.
With so many different factors at play, it pays to do your research – literally – so drink in some of our best advice and make your business and ecommerce platforms all the more profitable – with the help of some consumer psychology.