Why Your Retail Brand Is Losing Money Due To Your E-Commerce Store?
Your businesses website is the reflection of your brand and its message. And when you’re running an e-commerce store, a sound and responsive website is not an option but rather a necessity.
This is an era where competition is fierce and your website’s design is one important factor that will help decide your fate in that competition. Hence, your ultimate goal should be an outstanding ecommerce store design and functionalities that offer an excellent user experience.
If your online retail store is facing a sharp decline in conversion rate or your sales revenue is dropping off, you might have your e-store’s design to blame. A poor quality e-commerce store has the power to put off new clients and generate zero conversions.
We’ve listed some of the major flaws that may be the reason your retail brand is losing money due to your e-commerce store.
Your e-store is not mobile ready
The usage of smart phones is at its peak now. People find it rather easy to browse and explore on their portable, hand-held devices rather than physically approaching a brand. In such a scenario, businesses should recognize the need for developing e-commerce websites that are mobile ready and provide users with a smooth mobile experience.
Whether you opt for a mobile responsive website or decide to build a mobile app for your ecommerce store, make sure you offer an optimized digital experience so as to boost your average smart phone conversion rate.
You’re providing insufficient product information
Since customers cannot see or touch the product when shopping online, the information you provide along with the product acts as the deciding factor for the customers. Inadequate product information is one of the key reasons your retail brand could be losing money due to your e-commerce store.
Proper product knowledge ensures that sales are made. The pricing structure of the products, the styles, colors or models they are available in, reviews, how-to’s, delivery details, servicing, warranty, and repair information – these are some basic information that you need to provide along with high-quality product images.
Your site is slow
The web has become speedier. Thanks to the power of broadband connectivity that now more and more people have. In an era of fast internet, a slow loading e-commerce store could cripple your business. Stats reveal that people will leave if your site takes more than 4 seconds to load.
Site speed optimization is the demand of the day. Analyze your site, find the things that could be slowing down your e-commerce site and work on improving site speed performance. You can make use of site speed checkers available online to check how fast your online store is running.
Your website design is out-of-date
Your virtual storefront is accessible to visitors at all times. However, as time changes, your e-commerce website design may start to look dated and you know well that an out-of-date website doesn’t do anything for your credibility. A great and website design is what will keep customers glued to your site.
The concept of User Experience (UX) has been growing quite fast. We’ve listed some of the best UI and UX design practices being followed by industry experts in our blog – Why Your Business Needs the Best UI/UX Design?
You have a lengthy checkout process
Your e-commerce store’s checkout page is vital. It’s where your prospects convert to customers. But customers today are impatient. Anything that takes time can make them turn away from your brand and this includes the checkout process as well.
Take note of how easy or difficult it is to buy a product from your website. This could be the reason you store’s performance is declining. Improve your checkout process because if you could do that, you can recover your sales by a huge margin.
Your website lacks compelling CTAs
Lack of compelling and well-positioned CTAs could be another reason your e-store is losing customers. The positioning of call-to-action buttons plays an important role in making the checkout process as easy and intuitive as possible. In fact, studies reveal that a clear landing page with noticeable CTAs can boost conversions by 20%.
You don’t have a thank you page
A Thank You page is significant, especially in an e-commerce store, since visitors visualize it as a form of appreciation. When a customer leaves your page, he or she should be thanked for their precious time. In facts, surveys conducted have revealed that thank you pages increase the chances of sales.
Your virtual storefront has many elements that can make or break your deal with customers. If your brand is losing money because of your online retail store, it’s high time you start analyzing each and every aspect of your e-commerce business and start working on making it better.