This month, Internet Retailing reported that “UK shoppers spent £586.9m a week online, on average, in June. That’s 18.3% up on the same month last year.” On top of this, they also added that, “Some 9.7% of all retail spending took place over the internet. That put the average weekly spend across all retailing put at £6.9bn, up from £6.6bn at the same time last year and £6.8bn in May. The amount spent across UK retail rose by 3.8%, year on year, and 0.2% compared to the previous month. The volume of goods bought rose by 2.2% on last year and 0.2% on last month”.
As the online retail market continues to thrive in our ever-changing shopping environment, its important, as an online retailer, to ensure you are able to optimise your own performance under this trend. Maintaining focus on increasing your conversion rates as well as average order values works to drive and progress your retail business forwards in this space.
How to increase Conversion Rates and Average Order Values…
Locayta Visual Merchandising uses unique Locayta Balance Factor® technology to manipulate the display of products on your site, both in search results and on category pages. The display of products in a pre-conceived order based upon either information on user behaviour within your site or your own preferences, enhances the amount of sales you can drive. The technology determines the sequencing of products displayed based on various facets including popularity, profit margin, newness to site, highest rated, stock availability and sale velocity. The pre-sets made all enhance the amount of sales driven within every single user visit.
Locayta’s Intelligent Site Search and Navigation provide sites with a “Guided Navigation” framework displaying relevant refinement options allowing your users to drill-down their search. This significantly increases the usability and effectiveness of site search on your eCommerce platform, connecting your customers to your products.
Locayta Product recommendations are based upon the individual user’s behaviour on site, as well as previous users’ behaviour in real time. This generates highly personalised product suggestions alongside other purchase options on screen to your customers proving a highly effective tool for conversion rate increase.
Locayta Behavioural Targeting works by marketing specifically to returning users who have previously abandoned baskets without making a purchase. Using unique behavioural merchandising algorithms which reviews the users’ previous interactions on your site, Locayta‘s technologies make relevant, tailored and highly personalised product suggestions to your returning customers.
Amongst the many services available from Locayta, Locayta Product recommendations , Locayta Visual Merchandising, Locayta Intelligent Site Search and Navigation and Behavioural Targeting all come fully integrated into the Locayta Freestyle Merchandising® platform. To see them in action and find out more on Locayta Freestyle Merchandising® services as a whole, visit www.locayta.com today.