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1、The State of eCommerce 2023How Companies and Consumers Feel About eCommerce WebsitesCopyright 2023 Storyblok.All rights reserved.IntroductionAlmost every business(92%)believes that their websites bad user experience is costing them revenue,with 30%claiming that the cost surpasses$100,000 per year.Me
2、anwhile,60%of consumers abandon an average of 5 purchases per year owing to poor user experience on websites.Storyblok set out to study what businesses and consumers think of eCommerce websites.Main objectives:Determine the impact of bad user experienceUnderstand how users engage with eCommerce webs
3、ites and what matters to themFigure out steps that companies can take to improve their websites and gain more revenueDemographicsStoryblok polled 6000 consumers across UK,US,and Germany to learn more about their online buying habits.At the same time,500 business leaders at mid-sized eCommerce compan
4、ies in the US and Europe were asked about their website performance to compare how their experience correlates with the consumers.Key Facts48%of businesses are embarrassed by their website despite spending an average of$453,126 on marketing technologyLimited payment options,poor navigation or layout
5、,and slow loading speeds are some of the main reasons why consumers abandon eCommerce websites42%say they decide whether to stay on or leave a website within 10 seconds 20%within 5 seconds60%of consumers abandon purchases due to poor website user experienceBusiness leaders estimate that poor website
6、 user experience costs$72,000 in lost sales per yearWhat Shapes The Website ExperienceMost online customers decide whether to stay on an eCommerce website during their first visit in 610 seconds;First impressions are crucial!Easy navigation,fast loading speed,and appealing design are the top 3 most
7、important things that shape the eCommerce website experience,according to consumers.When you visit a new eCommerce website,how long does it take you to decide whether you will stay or leave?What factors influence you most when buying a product online?Not sure13.9%More than a minute11.9%Between 31 se
8、c 1 min13.9%Between 11-30 sec18.8%Between 6-10 sec21.8%Less than a sec5.9%Between 1-5 sec13.9%How Business Wish to ImproveIf you could improve your companys website,what would you change?Despite the majority of consumers choosing easy navigation as a top factor of a pleasant UX,over half of business
9、es(52%)would rather want their website to accept more payment methods,if they could improve it in some way.This was followed by:It would load faster(47%)It would be more visually appealing(46%)How eCommerce Business evaluate their websitesAlmost half of business owners/decision-makers(48%)said the f
10、unctionality of their eCommerce website(i.e.slow loading,content errors,mistakes)had embarrassed their company in front of important stakeholders or customers.Only one third(33%)of business owners/decision-makers in eCommerce said their website meets all of their expectations.54%said it meets most o
11、f their expectations.10%said it meets some of their expectations.On average,business owners/decision-makers in eCommerce estimate their company spends 3.97 hours each week on website tasks.28%spend up to 2 hours21%spend 2-3 hours8%spend more than 10 hoursMeets all expectations34%Meets some expectati
12、ons10.3%Meets most expectations55.7%More than 10 hours14%2-3 hours36.8%2 hours49.1%How eCommerce Business evaluate their websitesBusiness owners/decision-makers were asked to what extent they agree or disagree with the following statements:Websites are better designed/more intuitive to use compared
13、to recent years.Websites generally load faster now than a few years ago.Visual features like image carousels and videos improve the customer experience.Chatbots are enhancing the customer experience.Websites now have too many features.strongly agreeagreedisagreestrongly agreeagreedisagreestrongly ag
14、reeagreedisagreestrongly agreeagreedisagreestrongly agreeagreedisagreeThe Real Cost of Website MaintenanceWebsite error fixing and maintenance wastes an average of 4 hours per week with 8%of businesses spending more than 10 hours per week.Business leaders estimate that,on average,a poor website user
15、 experience costs$72,000 in lost sales per year.How much time do you estimate your company spends each week on website tasks(e.g.fixing errors/bugs,maintenance,omnichannel experiences etc.)?How much money do you believe your company loses in business per year due to poor website performance?Less tha
16、n 0.5 hours6.9%10 hours+6.9%5-10 hours30.7%3-4 hours19.8%0.5-1 hour8.9%1-2 hours8.9%2-3 hours17.8%Influence of Martech on eCommerce ROIDo you believe you have received a good ROI on your Martech investment?Over three in five(62%)said they received a good ROI on their Martech(marketing technology,mar
17、keting software and platforms)investment.This was followed by:28%receiving very good ROI6%receiving poor ROIYes very good ROI28%Yes good ROI62%Dont know4%No poor ROI6%Why Consumers Abandon PurchasesOverall,60%of online shoppers claimed they abandoned a purchase because of a poorly designed/functioni
18、ng website.Meanwhile,people may still make purchases from poorly designed online stores,but they will be embarrassed to tell anyone about it,which is especially relevant to the US audience.What are the main reasons why you avoid buying products from a website?Have you ever bought something from a br
19、and,but were embarrassed to tell anyone about it because the website is so poor?UncompetitivepricesLimited paymentoptionsPoor navigationor layoutSlow loadingspeedsPop-upsCluttereddesignOutdated websitedesignPoor or outdatedcontentUKUSDETotalHow Consumers Feel About VR and ARThe majority of modern co
20、nsumers expect VR and AR to streamline their purchasing experience,especially those in the USA.UK-based consumers,however,are not that familiar with or excited about the technology.Virtual reality(VR)is a simulated experience that employs pose tracking and 3D near-eye displays to give the user an im
21、mersive feel of a virtual world.Augmented reality(AR)is an interactive experience that combines the real world and computer-generated content.Would a mixed reality(virtual reality(VR),augmented reality(AR)buying experience encourage you to make a purchase?The Future Trends in MartechWhen thinking of
22、 the next major trend in Martech,business owners/decision-makers named the following:AR/VR experiences28%Automation16%Personalization20%AI-generated content22%None of the above3%Omnichannel content11%Conclusion Business leaders estimate that poor website user experience costs$72,000 in lost sales pe
23、r year.The main reason is that 60%of online shoppers abandon the purchases due to poor navigation and design.Meanwhile,51%of consumers name performance as one of the most crucial things in eCommerce website experience.Adapting a headless CMS is a proven way to boost user experience and improve ROI f
24、or eCommerce stores.Ease of navigation,short loading time,and simple design are named the primary features valuable to consumers.On the other hand,excessive functionality like chatbots may distract users.Limited payment options,poor navigation or layout,and slow performance are the main reasons why
25、consumers abandon eCommerce websites.A lot of businesses,however,plan to extend payment options.Regus Millerntorplatz 1Aufzug A.,6.Stock Hamburg 20359 GermanyTabakfabrikPeter-Behrens-Platz 2Linz 4020AustriaNorthcliffe HouseYoung StreetLondon W8 5ttUnited KingdomAv.Embaixador Abelardo Bueno 600-Barra da TijucaRio de Janeiro,RJ,22775-040BrazilYour Headless CMS