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1、The State of eCommerce 2023How Companies and Consumers Feel About eCommerce WebsitesCopyright 2023 Storyblok.All rights reserved.IntroductionAlmost every business(92%)believes that their websites bad user experience is costing them revenue,with 30%claiming that the cost surpasses$100,000 per year.Me

2、anwhile,60%of consumers abandon an average of 5 purchases per year owing to poor user experience on websites.Storyblok set out to study what businesses and consumers think of eCommerce websites.Main objectives:Determine the impact of bad user experienceUnderstand how users engage with eCommerce webs

3、ites and what matters to themFigure out steps that companies can take to improve their websites and gain more revenueDemographicsStoryblok polled 6000 consumers across UK,US,and Germany to learn more about their online buying habits.At the same time,500 business leaders at mid-sized eCommerce compan

4、ies in the US and Europe were asked about their website performance to compare how their experience correlates with the consumers.Key Facts48%of businesses are embarrassed by their website despite spending an average of$453,126 on marketing technologyLimited payment options,poor navigation or layout

5、,and slow loading speeds are some of the main reasons why consumers abandon eCommerce websites42%say they decide whether to stay on or leave a website within 10 seconds 20%within 5 seconds60%of consumers abandon purchases due to poor website user experienceBusiness leaders estimate that poor website

6、 user experience costs$72,000 in lost sales per yearWhat Shapes The Website ExperienceMost online customers decide whether to stay on an eCommerce website during their first visit in 610 seconds;First impressions are crucial!Easy navigation,fast loading speed,and appealing design are the top 3 most