There are millions of ecommerce sites out there and, thankfully, developers, designers and consultants who work on ecommerce sites have tested practically every iteration of product page to maximize conversions. Invesp has published some fairly startling statistics when it comes to e-commerce sites:
- The average abandonment rate of shopping cart is 65.23%
- The average conversion rate of E-commerce store is only 2.13%
- The higher the average order value (AOV) the lower the product page effectiveness rate is
- For website with AOV less than $50, the effectiveness rate is at 25%.
- For website with AOV above $2000, the effectiveness rate is at 4-5%
Creating effective E-commerce product pages is extremely important for better customer experience and high conversion rates. Check out our Infographic to find out How to Create Effective E-commerce Product Pages in 21 simple steps. From the Invest Blog.
Predictive vs. Anticipatory: Understanding the Best Analytic Approach to Address Your Business Goals
As technology has evolved, so has our ability to process data at an incredible rate, making it possible to perform what has become known as Anticipatory Analytics. While still a relatively new concept, anticipatory analytics is gaining prevalence as a methodology.