8 April, 2019 BeOn

The importance of eContent in the digital era

The quality of digital content, meaning the data and information that a product exhibits online, impacts all facets of the online retail business. In this article we analyze a study over online shoppers to better understand up to what extent consumers are affected by insufficient product content when purchasing online.

In the eyes of the digital consumer, a product is only as good as the information associated with it. If that information is incomplete in any way, purchases are delayed, products are returned and Brand equity us lost. All are very costly alternatives in the FMCG industry.

The platform in charge of managing econtent for thousands of brands along the world, Shotfarm, recently run a study among 1500 online shoppers with the objective of deeper understanding their shopping habits and how much product content impacts their purchase decisions.

The study showed that having poor product content online impacts significatively mainly in 3 areas:

  • First is returns. 40% of consumers have returned purchases they had made online during the past year specifically because they did not have enough information. As a consequence, when the consumer physically encountered the product and was different from what they had seen online or expected, they decided to return it, generating incremental costs for the retailer and the brand.

 

  • In second place, shopping cart abandonment. 30% of consumers abandoned their shopping cart due to poor product descriptions.

 

  • Finally, eTailer and Brand equity. 87% of online consumers said they would be unlikely to make or repeat the purchase with a retailer that provided inaccurate product information. This dramatically affects consumers trust, both in the Brand and the eTailer. When trust is infringed, results are not positive.

That is to say, brands have a huge opportunity to generate incremental sales and improve their margins by generating richer content and shopping experiences that increase consumers trust. In fact, 78% of online shoppers said they would be willing to buy more if the content included more images, videos or text with information personally relevant for them.

Building trust is fundamental…. And improves results

Consumer shopping experience impacts directly on consumers trust and the possibility that this product is chosen again in the future. It Will also contribute to the brands market share. This is the prize behind the online battle.

Brands should focus on obtaining consumers trust through a correct shopping experience which is highly correlated to the level of accuracy of product information. This is the only way in which they Will be able to obtain their sales and margin goals in the mid and long term.

 

Source

Shotfarm study (2018)

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