January 30 2019
The Importance of CRO In Fashion Retail
As more fashion brands make their move online, it’s important that businesses have a great first impression on anyone that visits their website. With more consumers finding it easier to shop online, leading to the closure of many high-street stores, ecommerce websites must learn why conversion rate optimisation (CRO) is important for them.
Econsultancy revealed that only around 22% of businesses are satisfied with their current conversion rates. With the competition stakes being significantly high, businesses that aren’t performing as well as they’d like to should be looking to implement new strategies that can boost their sales.
The Figures You Need To Know
Worldwide fashion revenue is expected to increase from 481.2 billion in 2018 to 712.9 billion by 2022 which means there are a lot of opportunities present when it comes to digital solutions.
As well as this, the way users are shopping online is also changing. Between Q2 2017 and Q2 2018, desktop ecommerce conversion rates stood at 4.06% worldwide whereas mobile was 1.86%.
It’s crucial to take into consideration that the two of the biggest consumers of fashion — the UK and US — shop differently when it comes to desktop and mobile devices; American conversion rates for desktop were at 4.07% and mobile at 1.47%. Whereas in the UK, conversion rates on desktop were at 5.66% and on mobile 3.28%.
If you’re a retail business that ships internationally, understanding the behaviour of your target audience is essential.
What You Can Do
You’ve probably heard the term ‘mobile first’ thrown around recently, and it’s absolutely true. As reflected in the figures above, mobile shopping is on the rise and you need to acknowledge its presence and come up with a strategy that allows you to take advantage of it.
Slow speeds can kill conversion rates, and it’s the number one issue that irate mobile users complain about, even above site crashes. 64% of smartphones users expect a website to load in four seconds or less, with 47% expecting webpages to load in two seconds or less.
With research suggesting that 79% of customers are less likely to buy again if they were dissatisfied with a website’s performance, it’s important that you budget for CRO. Optimising your website in a way that visitors feel inclined to make a purchase is something that you should be aiming for.
