I got the heads up about Digital Window Shopping 2007 ScanAlert study a week ago; did not have a chance to talk about till today; there's also a post in MarketingShift that just came out on the same study. According to the study:
"...The average time it takes an online shopper to make an e-commerce purchase decision has jumped from about 19 hours in 2005 to over 34 hours in 2007."
The Digital Window Shopping report brings up several good points :
- The longer a purchasing decision takes, the more important a customer's safety and trust in a Brand, Product / Service become.
- As there are more and more online retail sites, customers are taking a longer time making a decision, up from 12% in 2005-2005, to 44% in 2007. Why? People are doing research and need more time to compare all the options and that shows down the decision-making process.
- Many Online Sales involve selling a commodity such as Music CD's or Digital Cameras; customers are spending time comparing the same products across different websites - and that accounts for the longer time spent making an online purchase today, on average.
- Average Abandonment rate of a shopping cart, according to MarketSherpa, is 60%.
- Consumers are Risk Aversive and the safer and more comfortable you make your site and offer to a customer, the more likely you sell more product or service out of that.
- Using the Hacker-Safe Logo all over your site, not just in the Shopping cart, seems to help
The Digital Window Shopping report is a good study - glad I can write about it now.
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