In our recent eBook , we outline the six business cases for why retailers need better data not only to create superior shopping experiences, but to drive e-commerce performance. In this blog series we’ll break down each case and provide some of our own commentary. First up, business case number one: in order to make better decisions online, shoppers need better product data.
It’s no secret that shopping cart abandonment is on the rise. In fact, according to the Baymard Institute, about 67% of online shopping carts left full of merchandise, with shoppers citing reasons that range from unexpected costs to finding something better elsewhere. Perhaps the most interesting and significant reason is simply that website navigation was just too complicated. At Edgecase, that translates into one thing: incomplete, inaccurate product data is fueling a sub-par experience and shoppers are having a hard time deciding if they should click”buy” or bounce from the site altogether.
Detailed product data, in our opinion, is mission critical in creating a superior shopping experience and in helping shoppers make decisions. As today’s consumer becomes more willing to browse and shop online, retailers are challenged to create an e-commerce experience that closely mimics that of the in-store experience. When we shop brick-and-mortar, we are touching fabrics, testing cushions, and trying on different sizes. We’re able to directly interact with multiple options, weighing pros and cons to make an educated decision. We don’t always get that same luxury online. It’s up to retailers to leverage structured product data to describe what’s special about every product so consumers feel confident dropping them in the cart.
The bottom line is this: shoppers have a lot of outlets for finding the products they’re looking for, and the retailer that chooses to ensure their product data is enriched and structured will likely win the race. Having complete, accurate data fueling your e-commerce engines is the best way to ensure you are not only helping your shoppers find exactly what they’re looking for, but also creates an inspiring experience that will keep them coming back time and time again.
Interested in hearing more? Check out our eBook, “Hey…Your Dirty Data is Showing: The Business Case for Better Data ”, and check back on our blog for the next in this series!