E-commerce

The E-Commerce Basics to Help You Win the Holidays – Total Retail

Summary

It takes months for retailers to get the right technology, processes and infrastructure in place to support the heavy workloads the holiday shopping season entails.

With the busy holiday shopping season upon us, there’s an opportunity for last-minute optimizations, adjustments and considerations to help you best prepare your e-commerce site.

Focus on the Basics

It’s too late to add new, cool gee-whiz features or implement new payment and delivery options. What you c…….

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It takes months for retailers to get the right technology, processes and infrastructure in place to support the heavy workloads the holiday shopping season entails.

With the busy holiday shopping season upon us, there’s an opportunity for last-minute optimizations, adjustments and considerations to help you best prepare your e-commerce site.

Focus on the Basics

It’s too late to add new, cool gee-whiz features or implement new payment and delivery options. What you can do is fix the basics. This effort can make a significant impact on your holiday sales as well as the long term.

When it comes to the basics, it’s all about three things:

  • site performance;
  • customer experience; and
  • business processes.

Getting these three basic e-commerce tactics right is critical to long-term commerce success.

A high-end fashion retailer that we work with experienced some amazing sales results during the week of Black Friday last year:

  • 7 million visits in one day;
  • four orders per second;
  • 90,000 new customers acquired; and
  • $25 million sales revenue generated.

What would happen to this e-tailer if its online store was unavailable for as little as one minute? It would lose around 1,200 visits and 325 orders; with an average order value of $30, that means nearly $10,000 in lost sales every minute.

But there’s more at stake; a poor first buying experience will affect customers willingness to return. That means for every one minute of downtime during the holiday season retailers can suffer:

  • Revenue loss: no orders coming through.
  • Loyalty loss: visitors experiencing downtime can be considered lost long term.
  • Customer acquisition loss: marketing dollars spent on driving traffic to your site during that downtime is basically money down the drain.

Make sure to test your site performance thoroughly before the holiday craziness begins. It’s better to have it fail when you have 0.3 orders per second than 5.4 orders per second.

Test, Fine-Tune and Test Again

When it comes to customer experience, set your focus on convenience and simplicity in every step of the buying journey. Customers should easily find what they’re looking for, and checking out should be like a playground slide — you should be out and away before you had time to blink.

There’s a ton of analytics that you can continuously look at to understand how consumers browse your site. But at this late stage you should complement this with qualitative research to capture last-minute optimization needs. Identify your “target buying persona” in your customer database and offer them a 50 percent discount on one order in exchange for input on what they find annoying during the shopping journey. The cost of this effort to keep customers content will be much lower than the cost to acquire 90,000 new customers after Black …….

Source: https://www.mytotalretail.com/article/the-e-commerce-basics-that-will-help-you-win-the-holiday-shopping-war/