As shopping shifts to the web and mobile, retailers need to be increasingly mindful of the different e-commerce channels and how their services and sites stack up against those of competitors, and the industry at large.
A few key performance indicators, or KPIs, allow retailers to benchmark themselves in specific areas of online commerce. Identifying the right areas for improvement can help businesses adjust and capture a larger share of the e-commerce and retail market.
In a new report, BI Intelligence, measures retailers on a variety of KPIs, including desktop and mobile site performance, app ratings, and the number of payment and shipping options offered to online customers.
Here are some of the key findings in the report:
- Shopping behaviour continues to shift to the web and apps, but many top retailers underperform across a series of important e-commerce metrics, including mobile-web load times.
- On PCs, where most online sales still occur, the average site takes about three seconds to load.
- Mobile is the breakout trend in e-commerce this year, but many retailers’ mobile sites are still far slower than their desktop versions. The average mobile site loads in seven seconds.
- Retailers that do the best job of leveraging their apps typically update them frequently, and this, in turn, often translates into higher app ratings. Some e-commerce startups are the most frequent updaters and enjoy the best ratings.
- Many retailers are under-leveraging social media during the holidays to drive traffic and sales.
- Offering multiple shipping and payment options is proven to boost conversions and increase sales.
In full, the report indexes retailers on:
- Time it takes for desktop and mobile sites to load.
- Size of online audience.
- Mobile app rankings.
- Social media engagement.
- Shipping and payment flexibility.
- Ease of contacting customer service reps.
- Customer satisfaction.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.