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New Research by Shopify and BCG Analyzes 1 Billion Data Points Across 220,000+ E-Commerce Sites to Identify Key … – PR Newswire

New Research by Shopify and BCG Analyzes 1 Billion Data Points Across 220,000+ E-Commerce Sites to Identify Key … – PR Newswire

Seller Can Directly Influence Six Major Areas of Conversion Optimization: Traffic Source, Basket Building, Checkout Experience, Payments, Customization, and Performance Customizations across the Conversion Funnel Can Have Varying Impacts, Though Shopify and BCG Find That Offering a Loyalty Program Can Increase Lower Funnel Conversion 4-6% In North America, Offering Use of Accelerated Payment Methods Can Increase Lower Funnel Conversion Rates by Upward of 50% BOSTON, June 16, 2023 /PRNewswire/ — The COVID-19 pandemic forced commerce of all kinds to digital platforms, but online shopping activity today remains well above its pre-pandemic levels. Customers now expect a seamless, tailored shopping experience across channels and devices, including a wide range of merchandise, convenient access to details or instructions, customer-friendly return policies, and quick and frictionless payment processes.For sellers, an extremely important element of performance is the conversion rate, which measures how many customers who begin their digital shopping journey complete their purchase. However, of the more than 100 variables examined by Shopify and Boston Consulting Group (BCG), not one explains more than 1.4% of the variation in lower funnel conversion rates, highlighting the complexity around achieving optimal conversion rates.The report, titled Leading Online Shoppers to the Finish Line, is based on a comprehensive… 

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