The retail industry is experiencing unprecedented growth and transformation, driven by the rapid adoption of ecommerce and mobile shopping. In the US, mobile commerce is expected to reach $534.18 billion in 2024, accounting for around 40% of total ecommerce sales. In the same year, global ecommerce sales are projected to surpass $7 trillion.
In this dynamic environment, understanding consumer behavior is crucial for retail and ecommerce brands to thrive. The Fullstory Behavioral Data Index offers valuable insights into how customers interact with digital platforms, revealing key trends and opportunities for retailers to enhance their online experiences.
Retail insights from the Behavioral Data Index
Session duration and engagement
Retail customers spend an average of 10 minutes and 34 seconds per session on digital platforms, compared to the cross-industry average of 14 minutes and 39 seconds. This shorter session duration underscores the need for retailers to capture customer interest quickly and effectively. Engaged time is crucial because it directly correlates with conversion rates and customer satisfaction. When customers actively engage with a website, they are more likely to explore products, add items to their cart, and complete purchases. Therefore, retailers should focus on maximizing this limited window by providing compelling and easy-to-navigate content that encourages deeper interaction and drives sales.Mobile shopping trends
Mobile sessions account for a significant portion of online shopping, yet they are typically shorter (3 minutes and 19 seconds on mobile compared to 13 minutes and 10 seconds on desktop). Retailers need to optimize mobile experiences to ensure quick and seamless transactions. Mobile browsing often leads to higher frustration signals, with rage clicks and dead clicks increasing significantly. Retailers should prioritize reducing these friction points to enhance the mobile shopping experience.Frustration signals
Rapid, repeated clicks in the same spot, known as rage clicks, indicate customer frustration. The retail sector has managed to keep rage clicks below the industry average, but there is always room for improvement. Dead clicks occur when customers click on non-interactive elements, indicating confusion or poor website design. Retailers should continuously test and refine their digital interfaces to minimize dead clicks. Clicks leading to errors are critical issues that need immediate resolution. Despite the challenges, the retail sector minimizes these clicks compared to other industries.Abandonment rates
With 44% of customers bouncing after viewing just one page, it’s evident that first impressions matter. Retailers must ensure that landing pages are engaging and provide clear paths to desired actions. Errors can be costly, leading 14% of customers to abandon their purchase. Retailers need robust troubleshooting and optimization strategies to prevent these exits.Customer experience
Retail customers tend to scroll through only 76% of a page on average. To capture customer attention, retailers should place critical information and calls to action higher up on the page. As omnichannel shopping becomes the norm, retailers must ensure a consistent and integrated experience across all touchpoints, from online stores to physical locations.
Leveraging behavioral data for retail success
Fullstory’s behavioral data platform helps retailers understand the "why" behind customer behaviors, giving them a significant competitive advantage. This deep insight allows retailers to create personalized shopping experiences, tailor recommendations, and provide timely interventions based on customer emotions and motivations. This level of personalization enhances the overall shopping experience and fosters customer loyalty.
The Fullstory platform also helps retailers uncover areas of friction within the shopping journey. Behavioral data highlights pain points that, when resolved, can streamline the user experience, reduce cart abandonment, and increase conversion rates. By boosting usability, retailers can ensure a smooth and enjoyable shopping process.
Fullstory provides actionable insights that empower retail teams to make informed, data-driven decisions. This enables retailers to optimize product recommendations, refine messaging, and improve customer interactions in real-time. The result? Increased revenue growth and heightened customer satisfaction.
As the holiday season approaches, leveraging behavioral insights becomes even more critical. By analyzing past behaviors and trends, retailers can anticipate customer needs and enhance their readiness for peak shopping periods. This holiday preparation ensures that retailers can meet customer expectations and capitalize on the heightened holiday shopping activity.
→ Ready to unlock your data’s full potential? Learn where you're lagging, where you're leading, and how to level up with our Behavioral Data Maturity Matrix.
Takeaways
By harnessing the power of behavioral data, retailers can improve user experiences, drive conversions, and maintain a competitive edge in the market. Embracing these insights is vital to thriving in the digital retail landscape.
To discover how other industries compare and to gain deeper insights into the power of behavioral data, download the Fullstory Behavioral Data Index and see how it can transform your business strategies.
