Recorded version of the webinar on eCommerce from February 4, 2021:
Key Learnings from Webinar
eCommerce in Canada
Video start time 7:24
- Retail eCommerce revenue (how much money is spent) continues to grow year over year (2017-2024). In Canada, the estimated growth between 2021-2024 is 7.6 billion dollars.
- COVID has impacted how we shop, and in turn has expedited the growth of eCommerce both in Canada and worldwide.
- As a result of COVID, 84% of consumers have shopped online during COVID.
- Video start time: 9:09 - Statistics Canada graph showing how shopping patterns of specific retail industries have been impacted by COVID (in-store vs E-commerce purchases between Feb-April 2020). In all industries we are seeing a decrease in in-store purchases and an increase in eCommerce purchases.
- Video start time: 10:04 - graphic from a Canada Post report illustrating the profile of customers that are shopping online in Canada. In 2019, the primary profile of most online shoppers were women, between 53-72 years old, in a relationship with no kids and living in a city. However, with COVID the expectation is that who and where people are shopping from has drastically changed.
- Video start time 11:06 - graphic from a Canada Post report showing how people are finding online retailers. Majority of people are finding online retailers through digital means - i.e searching on Google.
- Promote your store on channels your customers already use.
Video start time: 12:32
Make it easy for your customers to navigate your site - Video start time 12:44
- Simple path
Have clear calls to actions - Video start time 13:06
- (1) Use banners to guide users to specific pages from the Homepage - update them frequently to increase your engagement
- (2) Big and bold call to action button - i.e add to cart button
Clear categorization/sorting and filtering - Video start time 14:42
- Make sure your product categorization, sorting, and filtering is logical
Reduce the number of clicks it takes to make a purchase on your site - Video start time 16:15
- This also applies when driving people from other third party platforms (i.e Instagram ad) - Take the user directly to the product being advertised not the homepage
Site speed - Video start time 17:39
- Your site should perform fast and quick
- 40% of users won't wait more than 3 seconds for a page to load
- Any one second delay in load time can result in 7% loss in conversion
Image and product details - Video start time 19:02
- Focus on answering any potential questions a customer may have, and provide detailed information
- Example of a product page with detailed product information with clear images - Video start time 20:00
- Present detailed information about your product/service
- Use multiple images for each product
- Use Clear and appealing images
- Video content - helps with conversions
- Example of a product page that lacks detailed product information and images - Video start time 21:44
- Non-descriptive title
- Only one product image
- Description doesn't provide much information about the product
Product Reviews - Video start time 22:37
- Consider offering a review feature on your product page - giving the ability for customers to post and read reviews.
- This helps establish trust and encourages purchases
Checkout - Video start time 23:14
- 68.8% of customers reach checkout and don't complete a purchase (cart abandonment)
- Primary reasons why users abandon their cart - Video start time 23:33
Top Two Reasons:
(1) Extra costs are too high (shipping, taxes, fees)
(2) The site wanted me to create an account
Which payments do customers prefer for online purchases - Video start time 25:06
Mobile - Video start time 26:24
- 54% of eCommerce sales will happen on a mobile device in 2021
- Ensure your website has a responsive design - this ensures your site adjusts to different screen sizes (i.e tablet and mobile)
- Mobile responsive design demo - Video start time 27:14
- One click checkout - eliminate multiple steps that deter customers from completing a purchase - Apple Pay, Shop Pay, PayPal, etc
Key Success Metrics - Video start time 28:41
- How do you evaluate the success of your program ?
- What data points should you be looking at to make decisions to improve your program?
- Site visits/sessions
- Number of orders
- Sales conversion rates - percentage of people who visit your site and make a purchase (avg. eComm rate = 2-4%)
- Abandonment rates (shopping cart - % of people that add items to their cart and leave it, checkout - % of people reach the checkout, but don't complete, exit page - what pages are people leaving from? - make changes to these pages to decrease the exit rate)
- Average order value - on average how much are people spending per order?
- Retention rate - % of customers you are maintaining overtime
Trends in Commerce - Video start time 32:26
- Omni-channel customer experience: giving customers the ability to shop online and in-store (connecting eCommerce to in-store POS)
- This allows for multiple purchasing abilities. i.e. the ability to buy online - pick up in-store, browse in-store - buy online, buy in-store and shipped to them later)
- Social and Marketplaces: giving customers the ability to shop through social channels
- This allows customers to browse products on social media and view the prices or purchase in the app
- Plug-ins to sync products and inventory with social channels are available
- Leveraging marketplaces - like Amazon, community run mini marketplaces
- New payment options: "one-click checkout" and buy now, pay later (instalment payments) through solutions like Affirm, AfterPay and Klarna
Questions & Answers :
- Which eCommerce platform should I use? Video start time 36:50
Things to consider:
- What are you looking to do with your eCommerce program?
- Do you have a physical location? - where you may need to connect to your POS system, does that platform offer a connection your POS system?
- What type of products am I selling and how do I want to sell them? i.e Do I want to offer subscriptions? Does that platform offer a subscription feature? What channels do you want to sell on? Some platforms offer connectors other don't
- Click here for more information on this
2. How do I sell on social media? Video start time 38:32
- Two ways: (1) connecting/building a shop directly in Facebook (2) Use the connecter that your solution provides - if you have an existing eCommerce platform this connector can push products that you've already set up and sync your inventory when sales are made
3. Are there different best practices for service based businesses (i.e training programs, courses, etc? Video start time 40:07
- Provide as much information as possible
- What can they expect from the course/service?
- Is what they are going to learn clearly outlined?
- Real time services - is there a connecter to Zoom or Google Meets?
4. What other trends are you seeing in eCommerce? Video start time 41:13
- Building experiences with your customers - create customer experiences, not online but offline as well
- For example: Unboxing experience - how products are packaged, displayed
- Entices people to share on social media
- Recurring payment model - i.e subscriptions "set and forget"