In today’s climate, retailers need to ensure that their digital investments are firing on all cylinders whilst delivering the best possible customer experience. In reality, however, many ecommerce and omni-channel initiatives are underperforming with retailers missing out on significant sales.
One case in point is a European retailer who is chasing a short-term incremental revenue opportunity worth c.€900m, through a programme of simple fixes across common customer experience problems.
So, where should retailers focus their efforts? And which areas offer the best opportunities?
Recent Javelin Group research, in which 500 digital retail criteria were analysed across the customer journey for 40 retailers (UK and international across all the main sectors) in 2016/17 resulting in a summary performance score out of 10 for each capability, has identified the principal areas for improvement for digital retail initiatives. Here are the top 10 opportunities.
1. On-site search
On-site search is consistently one of the lowest performing areas with retailers scoring on average just 5.7 out of 10 on desktop and 4.7 on mobile (but with many individual instances as low as 2/10). Search users often have a clear purchase goal in mind and therefore convert at a much higher rate than other browsers – so optimising on-site search is a clear quick win.
Many retailers recognise this and have invested in advanced search and navigation software, but are still exploiting only a fraction of the capabilities on offer. Defining the right business rules and configuring the search tool effectively are important, but success also requires a re-think of how omni-channel product information is managed across the business to facilitate effective product search and selection.
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