The Big Mistake Retailers Are Making Online
The average conversion rate on retailer websites sits in the low- to mid-single digits. In comparison, the average conversion rate in offline stores is over 60 percent. Closing this gap could represent one of the largest sources of growth opportunity for retailers today and yet our work with retailers suggests they're not focusing on the crucial ingredients to make it happen. Retailers have a secret sauce that many multicategory online retailers don't: high-quality, experienced merchants who are on the front lines and understand what their customers want.