advertisement
advertisement

E-Commerce Customers Today Taking Longer To Buy

Written by Evan Schuman
July 5th, 2007

The average time it takes a consumer to make an E-Commerce purchase decision has jumped from about 19 hours in 2005 to 34 hours and 19 minutes this year, according to a report that is slated to be published next week.

The report, created by a security service called ScanAlert and based on about 128 million visitors to 470 web sites, makes the reasonable conclusion that the increase is based overwhelmingly on the increase in the number of E-Commerce sites today. In theory, this allows for much more extensive?and time-consuming?comparison shopping.

Comparison shopping is certainly a very good possibility, but as the novelty of E-Commerce purchases becomes more of a distant memory for most, other more innocuous options are also possible.

Customers today, for example, are more comfortable with virtual shopping carts and those shopping carts are also becoming more sophisticated. Combined, this makes many consumers much more comfortable with throwing items-of-interest into the shopping cart when the consumer has 10 minutes, confident that the items will be waiting for them whenever they have the time to return.

In other words, a visit followed by a several-day absence doesn’t necessarily mean the consumer was visiting rivals. Indeed, the report specifically applauds such consumer thinking.

“Retailers should think of shopping carts as convenient shopping tools, and encourage shoppers to save their searches for future return visits. Of course, merchants might have to work with cart developers to create this functionality,” a copy of the report said. “Still, saved search functionality where returning purchasers can easily pick up where they left off would save more of these types of purchases. Amazon?s 30-day cookie recreated the author?s two-day old search for a
heart rate monitor but the experience could have been much more comprehensive (and
more likely produced a sale) if a saved search and E-mail reminder system had also been
used.”

Other possibilities not addressed in the report include the possibility?raised in other reports?that the average cost of products purchased has been increasing, another hint of the slowly increasing consumer comfort level. It’s not surprising that consumers would want to take more time?to consult with a spouse, to see if they get that hoped-for bonus, to see if that big sale really does come through?as they are considering more expensive items.

The evaluated sites represented a handful of major brands?including Lillian Vernon, PetSmart, ShopNBC, U-Haul, FTD, National Geographic, the Encyclopedia Britannica, Marvel Comics and Vermont Teddy Bear?to an eclectic mix of smaller sites, including GunDogSupply, MrBeer, Adult Toy Chest and Christian Cinemas. (I’ll resist wondering if those last two sites do a lot of business with each other.)


advertisement

Comments are closed.

Newsletters

StorefrontBacktalk delivers the latest retail technology news & analysis. Join more than 60,000 retail IT leaders who subscribe to our free weekly email. Sign up today!
advertisement

Most Recent Comments

Why Did Gonzales Hackers Like European Cards So Much Better?

I am still unclear about the core point here-- why higher value of European cards. Supply and demand, yes, makes sense. But the fact that the cards were chip and pin (EMV) should make them less valuable because that demonstrably reduces the ability to use them fraudulently. Did the author mean that the chip and pin cards could be used in a country where EMV is not implemented--the US--and this mis-match make it easier to us them since the issuing banks may not have as robust anti-fraud controls as non-EMV banks because they assumed EMV would do the fraud prevention for them Read more...
Two possible reasons that I can think of and have seen in the past - 1) Cards issued by European banks when used online cross border don't usually support AVS checks. So, when a European card is used with a billing address that's in the US, an ecom merchant wouldn't necessarily know that the shipping zip code doesn't match the billing code. 2) Also, in offline chip countries the card determines whether or not a transaction is approved, not the issuer. In my experience, European issuers haven't developed the same checks on authorization requests as US issuers. So, these cards might be more valuable because they are more likely to get approved. Read more...
A smart card slot in terminals doesn't mean there is a reader or that the reader is activated. Then, activated reader or not, the U.S. processors don't have apps certified or ready to load into those terminals to accept and process smart card transactions just yet. Don't get your card(t) before the terminal (horse). Read more...
The marketplace does speak. More fraud capacity translates to higher value for the stolen data. Because nearly 100% of all US transactions are authorized online in real time, we have less fraud regardless of whether the card is Magstripe only or chip and PIn. Hence, $10 prices for US cards vs $25 for the European counterparts. Read more...
@David True. The European cards have both an EMV chip AND a mag stripe. Europeans may generally use the chip for their transactions, but the insecure stripe remains vulnerable to skimming, whether it be from a false front on an ATM or a dishonest waiter with a handheld skimmer. If their stripe is skimmed, the track data can still be cloned and used fraudulently in the United States. If European banks only detect fraud from 9-5 GMT, that might explain why American criminals prefer them over American bank issued cards, who have fraud detection in place 24x7. Read more...

StorefrontBacktalk
Our apologies. Due to legal and security copyright issues, we can't facilitate the printing of Premium Content. If you absolutely need a hard copy, please contact customer service.