Consumers are more and more researching and comparing products online and buying from physical stores by carefully evaluating the same.
Online Conversion Rates Drop by 55% in 5 Years as Purchasers Become Shoppers
Online conversion rates in the UK have fallen by 55% over the past five years as consumers have taken to browsing, researching and comparing products on more engaging retailer sites, rather than just viewing the internet as another purchasing channel.
In 2006, the average online conversion rate for retailers in the IMRG Capgemini e-Retail Sales Index was 8.4%, but that figure has steadily declined and the latest results reveal the rate to be 3.8% now.
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It’s interesting to see how the use of the internet in the purchasing process might be shifting. Perhaps this is a repercussion of an unstable economy – shoppers becoming more cautious with their spending.
Sophie Hobson, Deputy Editor, LondonLovesBusiness
by Sophie Hobson on 10:54 AM. #
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