Every so often the PBN Business Solutions team finds articles that must be shared so that the businesses reading our publication can spend time succeeding and not searching for information.
The following article was published by Fierce Retail and its editor Laura Heller. It serves as an important lesson for all business with an online retail presence.
Shoppers expect detailed product information, and 94 percent will abandon an e-commerce site if information is lacking or they can’t find the details they need.
Roughly 90 percent of consumers do some shopping online but 88 percent are demanding accurate, rich and complete product content before hitting the buy button, according to a study from product content management company Salsify.
Price ranked third, after detailed product descriptions and ratings and reviews.
An earlier survey from Bazaarvoice found that 39 percent of consumers who bought in-store read online reviews prior to making their purchase, and in some categories spent more in stores than if they had bought the item online.
The solution may come in threes, according to Salsify: 66 percent of respondents report that they want to see at least three product images and 82 percent want to check out a minimum of three product reviews when they are considering a purchase.
“Consumers are naturally very price-conscious,” said Jason Purcell, cofounder and CEO at Salsify. “But when making purchasing decisions, the research supported what we already believed to be true –strong product content is a critical factor to ‘buy.'”
Product content is more important to millennials than any other demographic – 40 percent more important than any other group, according to the report. This group is also 60 percent more likely to be influenced by a friend’s social media recommendation and are 72 percent more likely to make a purchase based on photos of others who have used the product.
Millennials are 50 percent more likely to rank ratings and reviews as the number one most important factor when deciding which site to buy from.
Mobile is most important to busy moms, who are 43 percent more likely to buy from a smartphone and are less likely to shop around.