Increasing your turnover and conversion rate is obviously the main goal of an efficient eCommerce merchandising strategy. Yet, you shall not forget to provide your customers with an optimal UX!
68% of internet users leave a webpage when they deal with a poor User Experience. Then, which KPIs shall you track to ensure that your eCommerce merchandising is the right fit, profitable and optimized? Here are 5 metrics to keep your sight on!
Analyzing your eCommerce merchandising is crucial to understand and to optimize your product mix. Let’s first have a look at product views.
The number of views adds up all product page views. It is not always the same as the number of clicks.
Indeed, people who view product pages have not necessarily clicked on it prior to it. Besides your homepage and category pages, there are many entry points to your product pages (Google Shopping Ads, Display, Direct access…). That’s why the number of clicks and views can greatly differ.
The number of product page views is a great indicator of the interest that people have our your product mix. By tracking the number of views, you can forecast seasonal fashion trends, and manage your product ranking accordingly to perfectly match the expectations of your customers (fall/summer collections…).
Do some of the items that you carry out show a high add-to-cart performance?
The add-to-cart rate is a great KPI to measure how efficient your product pages are. You get it by checking your add-to-cart figures against total views. This KPI is extremely useful if your catalog showcases a large number of items, and if you wish to quickly spot your Top/Flop items.
Choosing the right image, price, bundles, copywriting, or sales strategy… Different variables may affect your add-to-cart performance. It is up to you to optimize your product pages so that your visitors can benefit from clear and appealing information.
To boost your add-to-cart rate, you may also wish to enforce a cross-sell strategy by suggesting items that complement one another.
You must have clear goals to track your entire product mix and to be able to take the necessary measures if you are facing low performance.
Shopping cart abandonment
If you are an eCommerce professional you may be familiar with cart abandonment. A visitor that landed on your website, selects a few items to add them to its basket, then leaves without taking further actions. Several reasons may explain shopping cart abandonment: exorbitant delivery fees, an overly complex check-out process, the compulsory registration to your website to purchase an item, etc.
The purchase rate is a key metric that helps spot the limitations of your purchase funnel and see which products suffer the most of cart abandonment.
To calculate your purchase rate, you simply need to check the number of items sold against the number of visitors who have added this same item to their basket.
Beware of false metrics! If you do not provide your clients with a “wishlist”, you run the risk of seeing a high cart abandonment ratio. Many internet users use this feature to remember items they wish to purchase in the future… Ensure that you provide these two options to avoid dealing with items that you wrongly thought were under-performing in terms of purchase rate.
Promotional events can similarly boost your add-to-cart performance while leading to higher shopping cart dropout rate! This is likely to mean that your promotional strategy is not truly efficient.
What’s more frustrating than browsing through an online store and finding out that the item that you wish to purchase no longer has your size?
Ecommerce merchandising is all about finding the right item at the right time… You shall avoid pushing products such as fans and A/Cs in winter or fall! Your offer shall be adapted and consistent.
It is a must to take into consideration your “product availability” when enforcing your eCommerce merchandising strategy to fully optimize customer journeys and conversions. Thus, you should closely track metrics about your inventory, seasonal trends, or even your promotional strategy. Check the availability rate of your most-viewed items and change your ranking accordingly.
Profitability is a KPI that is intrinsically related to the revenues generated by an item and product page views. The way to calculate it is the following: revenues/views.
Thanks to the SmartBots part of the Mazeberry Merchandising you can spot product pages with the highest ROI. Then, you can make these items part of your ranking strategy and maximize your revenues.
Taking actions can prove complicated if you do not have a Solution that streamlines your information and that is adapted to your job-specific problematics.
By using your existing data (inventory, review, product performance…), Mazeberry Merchandising enables you to easily activate and analyze your eCommerce merchandising strategy.
Click here to check all the challenges we can deal with! 😉