Posted by: steve elson
How much is a good ecommerce website? Nothing compared to the cost of a bad one!
Since the COVID-19 crisis, UK retailers have suffered their worst sales performance on record, according to the British Retail Consortium. The UK economy is predicted to ‘get worse before it gets better’ according to Chansellor Rich Sunak. As a result retailers are pivoting their marketing towards online sales to win more customers and boost sales.
Don’t underestimate the power of good ecommerce website development. It’s a common mistake to make, especially for start-ups. Ecommerce web design matters as much as, or sometimes more than the products you’re selling.
Research shows that consumers make a value judgement within the first seven seconds of encountering a new person or concept. And according to Malcolm Gladwell, that time is only two seconds. How does that transfer to ecommerce? Well, that means you have even less than that to make a visual impression on potential customers.
What’s the cost of bad ecommerce web development?
According to a Senior User Experience Specialist with Nielsen Norman Group ‘Negative experiences have stronger emotional impact on humans than positive experiences do. Thus, in designing the user experience, we need extra emphasis on avoiding those lows.’
So what’s the cost of a good ecommerce website? Nothing compared to the cost of a bad one. After all, new research suggests that for 92% of consumers, visuals are the top driving force for making a purchase.
Combined with the knowledge that the first two seconds of contact with your ecommerce website are the most crucial to making a sale, that’s a pretty big deal. Can your business afford to ignore that?
UK retailers are getting left behind as consumer spending habits change
According to researchers at A&M and Retail Economics, consumers now spend one in every five pounds online – and if businesses are seeing 20% fewer sales on the shop floor as well as their fixed costs rising, then profit margins will be squeezed.
Bricks and mortar shops are experiencing a drop in sales worldwide as a larger portion of sales continue to go to their online competition.
Over half of the UK love shopping online!
The UK online spend is predicted to grow 29.6% between 2019 and 2024. Furthermore analysts predict half of all UK shopping will be done online within the next 10 years.
According to Smart Insights, UK consumers will spend an average £1,600 per year each on online shopping.
So whether the market for your products and services are local or global, you need an ecommerce web development team that will get your inventory online and in front of new customers—quickly, easily and affordably.
Understanding consumer behaviour is key to successful ecommerce web development
To sell to your audience, you must understand consumer behaviour. According to an informative report from Deloitte, this all comes down to the “Three Rs.” Those are: Research, Recommendations and Reviews, and Returns.
As digital technology opens global markets, customers have access to more product research and information than ever. Informed consumers are able to investigate new brands and old ones to determine to make their final selections, especially in markets such as electronics, gaming, and homewares.
Consumer power is growing. As potential customers begin researching brands, they seek out reviews of consumers and expert recommendations on websites, blogs, and in a growing trends of video reviews on sites like YouTube. User opinions matter in today’s market and people are turning to find those reviews online more than ever. The power of social media has never been higher.
Product returns have become another part of the retail process. Buyers return product for several reasons, not only simply defective products. In many cases, buyers are not able to try out their purchase beforehand and their decision reflects some remorse or simple dissatisfaction
Each part of the “Three Rs” makes a crucial piece in understanding customer motivations. It’s even more important when investing in improving your business’s ecommerce venues.
How should you balance your ecommerce budget?
If your goal is to stay competitive in the market place then you should spend proportionally. When you have your ecommerce website redesigned or developed it’s a good opportunity to look at ways to streamline workflow processes and add value to improve your bottom line.
It’s equally important to consider other costs like content scraping, site hosting, data feeds, search engine marketing and technical support. Costs vary according to your requirements so make sure your web development company produce a functional specification outlining the sites features and functionality. This way nothing gets forgotten or left to chance!
Sell more. Faster. Easier. Sound good?
It’s time to ditch the store-front only practice and focus some resources on understanding howe shopping behaviour is evolving.
Adaptability is key to success in commercial retail. Moreover, selling your product in an online market depends as much on presentation as it does function.
Many businesses feel overwhelmed by the idea of ecommerce and if that’s you, we promise the process is ridiculously easy. Our ecommerce web developers can set up your shop quickly, whether you sell one product or ten thousand.
We can integrate sales, inventory, shipping and customer relationship management tools that help you save time and build your business. So your customers will benefit from an attractive, user-friendly, secure environment that makes them feel good about purchasing from you.
What are your goals for your business’s future? Let us help you achieve them!