Member News: WHY IS ABANDONMENT IMPORTANT? by Kathy Heslop, Director of Communications at Ve Interactive Ltd
Article Date: 16th Feb 2010
• 1.67 billion people worldwide use the internet (Miniwatts Marketing Group) and IT literacy is increasing all the time.
• On average, 65% of all online transactions are abandoned.
• The online retail market, (worth £9bn in the UK back in 2005), will leap to £25bn by 2010 as more consumers switch to the convenience of online purchasing. (Deloitte & Touche)
• 46% of people buy more products online now compared to a year ago (Deloitte & Touche)
• Online retail will account for 40% of UK retail sales alone in 2020 (uSwitch)
• The Telegraph described Monday December 7, 2009 (Cyber Monday), as the ‘busiest online shopping day ever’ and that ‘between the hours of 1pm and 2pm alone, Brits spent a combined total of £33 million, a year-on-year increase of 21 per cent.’ According to the IMRG (the trade body for online retailers) Cyber Monday 2009 brought in sales of £417 million, representing a 14% increase on 2008’s Cyber Monday.
WHY VECAPTURE?
• 46% of abandonees convert when re-marketed to (Forrester Research).
• 42% of online companies say that they have poor or low level of knowledge of their customers’ behavioural merchandising. (PMP)
HOW COMPLICATED IS VECAPTURE TO USE?
• It isn’t, installation is simple and requires no programming
• Privacy and trust: Ve Interactive recommends that you ensure the privacy of your web site visitors by disclosing what information you are collecting and for what purpose. Transparency is good practise to build trust and in doing so you also remain compliant with privacy laws and consumer rights.
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