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The effects of the pandemic are changing everything, from the way we behave and communicate to how we work and go about our daily routine. Businesses have been affected by the pandemic as well. They have to change and adapt to the situation to stay viable. It’s a daring task which can be made easier with technology, more specifically, with digital transformation solutions. Implementing such solutions will not only allow businesses to make the best out of a bad situation. It can even create some positive changes. Read more at https://forbytes.com/digital-transformation/how-digital-transformation-solutions-help-ecommerce-businesses-brave-pandemic/
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One way to reveal areas in need of improvement is to perform a User Experience Design (UX) audit. It is used to gain useful insights about how your customers interact with your website and to develop a strategy centred around their needs. You can conduct a UX audit not only when you are facing problems, but also as a preventative measure before they occur.
​Where to begin? Find out in the article: https://forbytes.com/ecommerce/fix-unproductive-e-commerce-business/
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In a recent survey, Magento team has tried to find out what do eCommerce customers want from an online store. They interviewed shoppers from different countries and asked them about the perks they care about, the important website features and policies. In the article below you can find their answers and useful tips on how to improve your customers' journey.
https://forbytes.com/ecommerce/top-things-ecommerce-customers-want-from-your-store/
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A key performance indicator is a metric that indicates how well your eCommerce website, or indeed any organization, is performing. Without tracking your eCommerce KPIs it will be difficult to determine if you are making progress over time.
The best KPIs for measuring the performance of an eCommerce business depends on which aspect of your eCommerce you want to track. Customer support and marketing will look at the different metrics to determine how they perform. Similarly, different businesses will rely on different KPIs.
KPIs provide you with objective information, but it is up to you to interpret the data and determine what actions can be taken to improve based on those insights.
Read more at https://forbytes.com/ecommerce/most-important-metrics-for-ecommerce-website/
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When you want your eCommerce to grow, but your platform or technology you use cannot provide you this possibility, it's time to choose the new technical solutions for your business. An experienced eCommerce development provider can help you analyze your potential and current state, create a digital transformation strategy, and build the right solutions for your needs. But how to choose a reliable and stable technical partner? There are some tips from the Chief Business Development Officer at Fobytes (a software development company). He talks about the importance of cultural fit, established communication rules and strategic relationship between you and your tech partner.
You can find all the useful tips at https://forbytes.com/ecommerce/7-steps-to-choose-the-right-ecommerce-development-company/
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Researches show that 42% of consumers return their purchases because of inaccurate product information, while 30% of all abandoned carts are caused by bad product descriptions. Having the right product information management solution can significantly reduce the number of errors and manual work that is required of your product managers. It can help you provide the best experience for customers, and simultaneously increase your profits.
A product information management system stores all product data on one unified platform. As a result, users can easily access and manage any item, change its characteristics or price, check its availability in stock(s), etc. This significantly reduces the number of errors and manual work that is required of your product managers.
A custom PIM solution allows you to tailor it to the exact needs of your business, and make management even more efficient. On the image above you can see how a custom PIM system helps a large online store of furniture manage the numerous items in their stock.
Find more information at https://forbytes.com/digital-transformation/how-product-information-management-system-can-boost-your-business/
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One of the most important key performance indicators for any eCommerce merchant is the shopping cart abandonment rate. This figure is usually between 60-80%, but there are claims that the best-optimized checkout process can reduce this to as low as 20%. However, in order to implement cart abandonment solutions to lower your rate, you must first understand the reasons for cart abandonment.
What is shopping cart abandonment?
Shopping cart abandonment is when a visitor adds one or several items to their shopping cart but leaves the eCommerce website without completing the purchase. You can calculate your cart abandonment rate as follows:
The average cart abandonment rate is 69.57%, but industry averages can vary greatly.
What are the reasons for cart abandonment?
Once you know your current shopping cart abandonment rate it is time to improve it. In order to do that, you first need to understand the many reasons for cart abandonment. A Baymard study in 2020 reveals the following:
The majority of these issues can be addressed and improved.
Find out more information on how to improve your shopping cart abandonment rate at https://forbytes.com/ecommerce/how-to-improve-shopping-cart-abandonment-rate/
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