ConnectedCommerce: Conversion Rate Optimisation (CRO) – March 2015

InternetRetailing’s Connected Commerce series of reports, of which this is the first, is a considered, case-study and research-led investigation into how retailers and suppliers can work collectively to achieve commercial results and embrace key principles across their business and not just in isolation. 

A retailer that can’t convert a customer to buy doesn’t last long. Therefore it could be said that the concept of conversion rate optimisation has always been core to a retailer’s business plan since retailers have always been concerned with how to best convert their customers to buy, maximising the potential through upselling and cross selling opportunities.

This report shows that it is often the smaller, more agile retailers who are best embracing the philosophy of CRO in a connected commerce business. These are retailers that are implementing it across their business with a lead and focus from the very top of their organisations. But the report also highlights larger names such as Schuh [IRDX RSCH], Office [IRDX ROFF], Majestic Wine [IRDX RMAJ] and New Look [IRDX RNEW] too who are doing similar.
We hear the expert views of our sponsoring partners PRWD, iAdvize and Klarna and their thoughts about how they view conversion and what they can to do for retailers to help aid the process.

In partnership with

prwd_150wA full service Conversion Optimisation agency who use psychology, user research, data analysis and creative concept design to deliver on average 541% ROI through A/B testing.

Their Six Step Optimisation Method developed over 10 years’ working with multichannel retailers such as Schuh and Lakeland puts particular focus on user research. Unlike other CRO processes this gives real insight into customers and allows PRWD to work on high ROI impact areas.

Mentioned in this piece…

Schuh

Schuh

IRDX: RSCH

Schuh is a Scottish high street and internet branded footwear retailer, operating throughout the British Isles. (more…)

Office Shoes

Office Shoes

IRDX: ROFF

Office Shoes is retails footwear under the brands Offspring, Poste and Poste Mistress, in addition to the eponymous brand. (more…)

Majestic Wines

Majestic Wines

IRDX: RMAJ

Majestic Wine is a British wine retailer with 170 stores in the UK and three in France. (more…)

New Look

New Look

IRDX: RNEW

New Look is a UK-based multinational fashion retailer. (more…)