With the increased popularity of online shopping in today’s market, many factors may influence the buying potential for a website. Since shopping online has become a way of life, website owners must be able to satisfy the requirements of their clients in order to continue profiting. Many people simply do not have the time to go out to a physical retail store and make purchases. For this reason, many prefer to shop online. Aside from saving time, there are many other motives for shopping online.
Better Prices
Most shoppers seek the best deals, which are usually found online. Many retailers often do not have the same deals in store as they do online since the cost of operating a physical establishment is substantially higher than running an online shopping site. Factors such as rent, payroll, utilities, and storage fees all contribute to the overhead and gross margin of operating a physical establishment. For this reason, many genuine retailers will pass on the savings to shoppers looking for better deals online.
Wider Selection
Since the lack of shelf space does not play a role in online shopping, retailers do not have to worry about space. They can easily broaden their selection by posting products on their websites.
Reviews from Other Shoppers
Social proof is a critical factor when it comes to shoppers making a purchase decision on a website. Many shoppers have reported that their decision is largely influenced by other shoppers’ opinions.
Comparison Shopping: Rather than traveling from store to store comparing prices, online shoppers can easily navigate from one webpage to the next comparing pricing, reviews, quality,and customer service within minutes.
However, just because people may enjoy shopping online rather than in store, does not guarantee sales for an online shopping website owner. Many savvy online shoppers take buying factors into consideration when visiting websites and ultimately making a purchase decision. Aside from competitive pricing and customer reviews, shoppers also consider the website’s trustworthiness when buying online. New and upcoming websites with little traffic may have a tough time making sales simply because it is not a validated website.
Many shoppers may be skeptical in making a purchase from an unknown retailer, even if great deals are offered. Some great ways for new websites to gain reputation and trustworthiness is by improving website security against threats, considering the integration of product recommendation technology while they shop on the website, and delivering a pleasant customer experience. Additionally, online retailers should make delivery options as efficient as possible with estimated delivery times, while surprising customers with responsive customer service. Surprisingly, many customers are turned away when presented with an unexpected shipping fee. For this reason, it is critical to have a flat shipping rate, or offer free shipping, if your budget allows.
Another big turn off for online shoppers is website speed. Customers are less likely to return to a slow operating website because of the frustration it may cause. Making sure the technical infrastructure of a website is performing at its peak plays a critical role in maximizing earning potential. Although this may require a bit of capital to be invested into the website, it can drastically increase the time spent on your website. Lastly, and perhaps the most critical aspect of online retail success, is the visual factor.
The color and themes of a website are one of the most widely overlooked elements of a successful website design. Strategically selecting the color for a website can compel the visitor to spend more time on your website, and ultimately increase the chance of the visitor taking action on the website’s goal. Below is a brief guideline that can help you choose colors for your website.
Red: Powerful and attractive, invokes emotion. Commonly used to entice visitors into taking immediate action.
Blue: Conservative and relaxing. Commonly used for highly technical products.
Green: Visually appealing, symbolizes wealth and prosperity. Commonly used by corporations, tourism sites, and nature-related websites.
Yellow: Symbolizes creativity, promotes leisure products. Appeals to children, but may strain the eye.
Orange: Promotes positive thinking and creativity, appeals to younger audiences. Commonly used to promote dietary products.
Purple: Only commonly used in religious sites or vacation sites.
Black: useful for sites that promote art and photography. Should be the primary text color.
As more online retailers adopt the same product listing techniques and strategies, enhancing the shopping experience visually is vital. Incorporating quality photos, testimonials, sharing options, colors, and videos, can lead to a tremendous leap in website conversion. Data has shown that customers who see videos on websites are 60% more likely to make a purchase, and will spend an average of two extra minutes visiting your website.
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