Digital Commerce 360’s all-new 2023 Ecommerce Conversion Report analyzes retailer strategies and investments to increase conversion rates.
No matter which merchant type, retailer size or product category Digital Commerce 360 researchers examined, conversion rates have held steady for three years at 2.8%.
For Top 1000 retailers, conversion rates were higher than that of Top 2000 (2.8% vs. 2.6%), suggesting that having the resources to invest in conversion-driving tactics and technologies makes a difference.
Digital Commerce 360’s 2023 Ecommerce Conversion Report delivers the Top 5 tips you need to build higher conversion and provides retailer and shopper insights about the conversion process.
This report is the industry’s most detailed study of ecommerce conversion rates and includes a digestible analysis of how trending tactics—like omnichannel services and web speed—may hold the keys to higher conversion rates.
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KEY FACTS
–Free shipping remains the No. 1 attribute likely to lead a shopper to place an order
–45.8% of Digital Commerce 360’s Top 1000 online retailers offered a Buy-Now-Pay-Later option in 2022, up from 28.2% in 2020
–Store locators remain the most popular omnichannel feature among the 2022 Digital Commerce 360 Top 1000 retail chains
–Among the 201 retail chains ranked among the Top 1000, 72.1% offered BOPIS as of early 2022 and 52.5% offered curbside pickup/drive-up services of orders purchased online
–Delivery dates that did not meet the shopper’s needs (18%) and no guaranteed delivery date (12%) are the leading causes of abandoned carts
–Total conversion rates for Top 1000 retailers were higher than that of Top 2000 retailers (2.8% vs. 2.6%)
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INCLUDED IN THE REPORT
–Extensive overview on ecommerce conversions last year—and what the data means for 2023
–15 charts and graphs packed with all-new industry data
–A review of conversion tactics like omnichannel, website speed, payment options, livestreaming and personalization
–Consumer insights: shoppers explain what makes them convert to buyers
–Top 5 ways to build higher conversion rates