For every retailer who has wondered why an online customer abandoned their basket prior to checkout, this latest research from from Mediaworks makes interesting reading.
Fashion has always been fast-paced as trends come and go. One trend that’s here to stay is the growth of digital — by 2020, 28.8 per cent of the UK’s total fashion spend will be from online sales.
The UK’s online fashion performance is already strong. Between 2015 and 2016, there was a 28.7 per cent growth in traffic to fashion retailers’ websites — dwarfing the overall European growth of 18.4 per cent.
As the UK’s online fashion market remains strong, an increasing number of luxury fashion retailers are wanting a piece of the action. Back in 2015, luxury fashion sales accounted for just 3 per cent of the worldwide fashion spend; predictions estimate this figure will grow to 17 per cent by 2018.
So how can fashion retailers capitalise on their growing online audience? Award-winning digital agency Mediaworks has created the Fashion Forward: The Digital Forecast white paper to highlight the key digital trends fashion retailers must consider for a successful digital strategy.
Download the white paper today to read it for yourself, or check out our run-down of the key points below;
RankBrain is Google’s artificial intelligence system that is working to make the search engine smarter. It works by ensuring the most relevant results are displayed for users. Unlike other ranking factors, you can’t optimise your site for RankBrain. However, because the system looks for relevancy, keeping your content up-to-date will aid your ranking potential. Ensure the content you create fully answers user search queries and monitor its performance. If bounce rates are high, your content may not be performing as expected; review and tweak to find out what works best for your users.
On average, the conversion rate for fashion retailers is just 1.7 per cent on mobile devices — significantly lower than tablets and desktop rates. This suggests that mobile is most commonly used to research a purchase. There is a clear need for retailers to improve their mobile offering. It goes without saying that they should have a fully mobile-friendly site — it is twice as likely to convert than a site that isn’t mobile friendly. Developing an app could also be beneficial, as they have a 54 per cent purchase rate compared to 44 per cent for sites.
Basket abandonment is a big problem for fashion retailers. The most common reasons why users will leave a site without making a purchase include unexpected shipping costs (28 per cent), having to create a new account (23 per cent) and conducting research (16 per cent).
To counter these issues, streamline the checkout process to make it easier for users and clearly provide all of the delivery and returns information they need. Use basket abandonment emails and dynamic remarketing to remind those that don’t make a purchase of the items. 44 per cent of all abandonment emails are opened, and almost a third of clicks lead to a purchase.
Social media is a key platform for fashion brands. On Instagram alone, they receive three times more interactions than other brands and have a three times larger audience on the site. To connect with your target audience on social media, invest in social advertising to promote your products, giving users an opportunity to share their views about your brand. Implementing an online reputation management strategy to control how your company is perceived online will also be beneficial.
Through Google Shopping, you can promote your products to the right audience at the right time. Overall fashion-related Google Shopping ads have the third highest conversion rate (3.76 per cent).
You can make a success of your Google Shopping campaign through properly optimising your product feeds to ensure maximum visibility for relevant phrases and deliver the detail customers need. Monitor your feed and keep your prices competitive to maximise your chances of success.
By mastering the above trends, fashion retailers can enjoy greater success from their digital marketing campaigns.
Download the full whitepaper here.