webinar “e-commerce: 5 tips to improve your online sales figures”
TRANSCRIPT
e-Commerce: 5 tips to improve your online sales figuresJohn Ashraf & Scott Garrison | 25 June 2015
In Europe, online retailers are expanding14 times faster than conventional outlets
Mature markets
Mid range markets
Source:http://www.retailresearch.org/onlineretailing.php
Online sales
9.5% or more of domestic retailing
Online sales
6.5% - 9.5% of domestic retailing
2
3
It is crucial to adapt to an Omni-channel sales environment
In the past companies needed
to optimize their sales only in
“real stores”
Now it is crucial to optimize the
assortment also for online retail channels
and to think about both online and
mobile devices
PASTIn-store optimization
CURRENTCross-platform
optimization
0%
20%
40%
60%
80%
100%
2011 2012 2013 2014 Aug-14
Mobile retail traffic
Desktop retail traffic
4 Source: ComScore 2014
Mobile retail traffic is exceedingdesktop traffic
Source:http://www.retailresearch.org/onlineretailing.php
5
SKIM is expert in e-Commerce
and has been helping clients by
replicating online retail
environments
Our experienceand expertise
6
7
SKIM shopping environment
8
Show the flow
9
Product Rankings
Ratings & Reviews Price & Promotions
Images & Iconography
Product Descriptions
& Sizes
Product Callouts
Example questions we can answer
5 key learnings from our studies that can help you optimize your
assortment for e-Commerce
5 Key Learnings
Impact
of Sorting
Search
Positioning
Mobile
shoppers
have a short
time span
Creative
Imagery
Reviews &
pricing
The #1 organic listing is still clicked on most often (32.8%)
Organic listings lower on the search list (especially positions 2-4) are clicked
on more often in 2014 than in 2004
People are viewing more search results listings during a single search session
(and they spend less time to view each of the search results)
Search position is important, but less important than it was 10 years ago
#1
Google investigated the importance of search output in 2005 and in 2014
11
0%
2%
4%
6%
8%
10%
12%
1 4 7 10 13 16 19 22
Pro
ba
bili
ty o
f C
ho
ice
Order in the Search List
Key Learning 1: Search position is still important
HIGHSEARCHPOSITIONING
INCREASED
VISIBILITY
CUSTOMERCONSIDERATION
Desktop shopping
12
13
Mobile devices can
only display a
limited number of
products at once
Mobile devices have
conditioned
searchers
to scan vertically more
than horizontally
Key Learning 2: For mobile it is even more important to be in the top of search resultsPeople have a short time span
0%
2%
4%
6%
8%
10%
12%
1 3 5 7 9 11 13 15 17 19 21 23 25 27P
rob
ab
ility
of ch
oic
e
Order in the search list
Mobile
PC
Often online retailers sort items by
popularity or “best sellers”
14
Key Learning 3: Use of sorting changes your competitive environment
41%
42%
23%
18%
42%32%
Landing page After sortingby price
After sortingby ratings
Percent of products chosen according to their search rank
Rank #1
Ranks #2-5
Ranks #6-15
Rank #16+
15
ONLINE STOREHelp shoppers see the benefits
of the product
Key Learning 4: Products clearly showing benefits have higher probability of choiceOnline there is more freedom to play with creative imagery
REAL STOREThere is only the “real
product”
ONLINE STOREHelp shoppers see the benefits
of the product
Fresh
cream
Can result in more than a 10%
uptake vs traditional imagery
16
Key Learning 5: Good reviews command a higher price
Score 5 Score 6 Score 7 Score 8 Score 9
Impact of review score on price value
Base price
+ 10%
+ 15%
+ 20%
+ 27%
5 key learnings from our studies that can help you optimize your
assortment for e-Commerce
Summary
Impact
of Sorting
Search
Positioning
Mobile
shoppers
have a short
time span
Creative
Imagery
Reviews &
pricing
skimgroup.com
Scott Garrison
Manager
Based in London
John Ashraf
Product Owner, Pricing & Portfolio
Management
Based in Rotterdam
@SKIMgroup
SKIMgroup
SKIMgroup