iPerceptions Releases Retail / E-Commerce Industry Report Q4 2010

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VoC Data from Holiday Shopping Season Shows Retailers Need to Address Significant Website Task Completion Issues

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Q4 is the time to focus on conversion, plain and simple.

iPerceptions Inc. (TSX-V: IPE), a leading provider of web-focused Voice of Customer analytics based on actual visitors, today announced the release of its Retail / E-Commerce Industry Report for Q4 2010. The report data reveals that 40% of ‘Buy’ visitors reported the inability to complete their task. As Q4 represents the highest traffic volume of the year for most e-tail sites and that the share of ‘Shop’ visitors are at their peak, addressing issues that improve task completion for this fiercely sought-after group is essential.

“In the first three quarters of the year, website marketers ought to focus on improving ‘Learning’ tasks associated with gathering information,” said Claude Guay, President and CEO of iPerceptions. “But Q4 is the time to focus on conversion, plain and simple. In addition, online retailers and e-commerce merchants concerned about repeat sales and long-term loyalty need to take a serious look at their task completion rate and support issues that visitors are experiencing.”

People visiting the site with the intention of making a purchase are considered to be in the ‘Buy’ phase. While there is an expected drop-off in satisfaction and task completion as visitors near the end of the purchase funnel, results from this report show that 60% of ‘Buy’ visitors reported ability to complete their task, with a corresponding satisfaction score of 71.

For visitors in the ‘Buy’ phase who failed to complete their task, 39% couldn’t find the product they were looking for, while 33% abandoned the purchase process because the product they were looking for wasn’t available. Other explanations for failed task completion included concerns over the shipping policy and/or purchase conditions such as inadequate product information (8%). Technical barriers prevented 4% of ‘Buy’ phase visitors from moving forward.

The report analyzed real-time feedback from more than 250,000 people visiting nearly 300 retail and e-commerce sites to identify the most important issues and trends facing this unique industry.
Other important findings from the report include:

  •     The areas of the online experience with the greatest room for improvement were the level of detail in the information and the ease of finding information
  •     There was a notable increase in the share of visitors who were online for ‘Support’, from 4% in Q3 to 11% in Q4
  •     The share of visitors who arrived via an email link increased from 6% in Q3 to 10% in Q4, likely due to more advertising during the holiday season

Data contained in this report represents aggregated information obtained from iPerceptions’ enterprise solution webValidator™ and free 4Q surveys deployed on the websites of many leading brands. The full report can be found on the iPerceptions website at: http://www.iperceptions.com/resource-center/.

About iPerceptions
iPerceptions is a leading web-focused Voice of Customer analytics provider. Its webValidator Continuous Listening solution, 4Q Suite solution, Web Analytics Solution Profiler (WASP) and proprietary iPerceptions Satisfaction Index (iPSI) turn millions of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions’ clients include such well-known brands as Dell, InterContinental Hotels, General Motors, Canadian Tire, Hyundai, LG Electronics, Choice Hotels International, BMW and Monster Worldwide. For more information, please visit: http://www.iperceptions.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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Barbara Reichert
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