If you look closely, the big time online retailer websites have a lot in common. One of those being that they spend a lot of cash testing to improve conversion rates. Come even closer and you will start to see patterns in what they are doing to increase these rates. I've compiled 5 of them and you can say thank you later. Lesson 1 - Reduce the customers risk People are really scared these days of the lack of privacy online provides.
Many small and independent retailers find that big markdowns don't motivate people to shop at their stores or websites. Or, they can't afford to use them -- unlike national chains, they don't have the high volume of sales allowing them to slash prices without hurting earnings. Retailers who want their stores to have a certain cachet also believe slashing prices may lessen their appeal. And some store owners don't want to play cat and mouse with customers, continually lowering prices until shoppers finally buy. Those who do give holiday markdowns often make them modest, or limit them to big days like Small Business Saturday or Cyber Monday.
"We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." While struggling with the topic and content of this column, the trickle of underwhelming Brick & Mortar sales results from many retailers' holiday season began to hit the press. Many of these retailers have only now seriously begun thinking about creating a sustainable business model for the future. For some the ship may have sailed. All of which got me thinking about an article I wrote for this column three years ago.