Poor-quality websites are costing businesses billions in lost sales

Date:
Fri, 05 Nov 2021 15:23:31 +0000

Description:
Search abandonment costs US retailers alone more than $300 billion annually.

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A poorly built ecommerce site could be costing your business big-time in lost sales, especially in the lead up to Black Friday , a new report from Google has claimed.

The report, based on a survey of more than 10,000 consumers all over the world, as well as 200 website managers in the United States, states that search abandonment (consumers abandoning a website because they couldnt find what they were searching for) costs in excess of $300 billion annually in the US alone.

Of the 10,000 consumers polled, 76% reported that they abandoned the retailer after failing to find what they were looking for. Almost half (48%) found,
and purchased the desired item, elsewhere. As a matter of fact, more than
half (52%) would typically abandon their entire shopping cart after failing
to find a single item. A positive experience leads to more spending

The pandemic has forced most people to shop online, and for many of them - it was a first-time experience. Google claims 75% of consumers recently tried a new shopping behavior as a result of the Covid-19 pandemic.

The problem is quite pervasive, too. Almost all consumers globally (94%) said they often get irrelevant results when searching on a retailers website . For almost nine in ten (88%) of website managers in the U.S., search abandonment is a problem, while for 84%, it hurts brand loyalty.

On a more positive note - those that do find everything they were looking
for, will usually spend a little extra. More than two-thirds (69%) of consumers said theyd buy additional items, after a successful search experience, and almost all agree (99%) theyre at least somewhat likely to
shop again.

A well-built website, with a good search engine, will boost a retailers revenues, Google concluded. According to the report, after using Google Cloud Retail Search, Macys saw a 2% increase in conversion and a 1.3% increase in revenue per visit.

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Link to news story: https://www.techradar.com/news/poor-quality-websites-are-costing-businesses-bi llions-in-lost-sales/


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