As an eCommerce store owner, it’s essential to keep a close eye on your website’s performance to ensure that it’s meeting your business goals. While there are various ways to measure the success of your eCommerce store, some key indicators can help you identify if your store is underperforming. In this blog, we’ll discuss how to tell if your eCommerce store is underperforming, and what you can do to improve it.
Low Conversion Rates
Conversion rate is the percentage of visitors to your website who take a desired action, such as making a purchase, signing up for a newsletter, or filling out a contact form. According to a study by Smart Insights, the average eCommerce conversion rate across all industries is around 2.86%.
If your conversion rate is lower than the industry average, it’s a sign that your eCommerce store may be underperforming. Some factors that may contribute to low conversion rates include poor website design, slow loading times, confusing navigation, lack of trust signals, and unclear calls to action.
High Abandoned Cart Rates
Abandoned cart rate is the percentage of visitors who add products to their cart but leave without completing the checkout process. According to Baymard Institute, the average abandoned cart rate across all industries is around 70%.
If your abandoned cart rate is higher than the industry average, it’s a sign that your eCommerce store may be underperforming. Some common reasons for high abandoned cart rates include unexpected shipping costs, complicated checkout process, lack of payment options, and security concerns.
Low Website Traffic
Website traffic is the number of visitors to your website, and it’s a crucial indicator of the health of your eCommerce store. According to a study by Digital Commerce 360, the average monthly website traffic for eCommerce stores in the United States is around 13,500 visits. However, this number varies greatly depending on the size of the business. Small eCommerce stores with less than $5 million in annual revenue have an average monthly traffic of 5,615 visits, while larger eCommerce stores with more than $100 million in annual revenue have an average monthly traffic of 22.5 million visits.
If your website traffic is lower than the industry average, it’s a sign that your eCommerce store may be underperforming. Some reasons for low website traffic include poor SEO (on average over 30% of online store traffic comes from organic Google Search), lack of content marketing, slow loading times, and inadequate social media presence.
What can I do to maximise performance?
Identifying if your eCommerce store is underperforming is critical to making informed decisions that can help you improve your website’s performance and achieve your business goals. By monitoring your conversion rates, abandoned cart rates, and website traffic, you can pinpoint areas for improvement and implement best practices to optimise your eCommerce store.
If any of the factors above sound like they are impacting the performance of your store, we would recommend speaking to us to arrange a free review of your store – our expert team of eCommerce marketing specialists will be able to create an action plan and next steps on how to achieve your store’s full potential.
