How to improve online sales? How to reach the target group more easily?
✅ Information is the key!
The eComm Association, in cooperation with the company Valicon and the Swiss government’s MarketMakers Project BiH, conducted a ShoppersMind survey of the eCommerce market in Bosnia and Herzegovina and thus gathered a wealth of useful knowledge about customer behavior. The research focuses on online customer experiences, and the data and results can be useful for:
- web sellers and online merchants,
- courier companies and post offices,
- card companies and banks operating in the ecommerce domain,
- marketing agencies and media,
- donors and projects,
- public institutions
The eComm Association offers free use of the research to its members with interpretations and advice on how to use it in practice. Those interested can contact us for a report with interpretations of data on demographic groups and online shopping habits in BiH via firstname.lastname@example.org!
The mission of this platform is to offer the eCommerce market a tool for insight into consumers and to evaluate the effect derived from the experience and purchasing habits of consumers.
We offer online merchants and all those involved in online trade systematic feedback from the market, through which we look at the position of online, internet trade from the perspective of customers, and in this way enable the detection of areas of improvement and spot trends.
Consumer awareness is an area that has been at the forefront of online shopping for years. In the field of online sales and online eCommerce, numerous sources of data obtained in the process of online sales to customers are used. However, there are currently insufficient sources that offer insight into the thoughts and experiences of consumers when shopping online – how they experience online shopping and what are actually the success factors for online sales.
Here we are actually talking about soft performance indicators that ensure long-term success. The key advantage is direct comparability according to standardized indicators and a flexible approach to measurement (in which every trader/store can be included), and comparison/benchmark with other countries in the region.
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Data collection takes place through the Valicon online panel system. The goal of the measurement methodology is to ensure the highest possible level of coverage or a high degree of representativeness of the sample and the reliability of the measurement.
The approach offers 2-step sampling options:
General eCommerce sample:
The sample was obtained using the Valicon online panel JaZnam (JazVem or JaZnam with 130,000+ members in the region – Slovenia, Croatia, Serbia and Bosnia and Herzegovina), which enables maximum representativeness of the market as a whole. Respondents evaluate the store where they made their last online purchase and there are no restrictions in choosing the rated store (the respondent evaluates every web store where they made their last purchase, foreign or domestic). In addition, the representative sample enables a comparative analysis for online stores that can independently invite their customers to participate in the research.
Boost/additional sample (optional): The additional sample includes customers of a particular online store who were invited to participate by the retailer himself. This option is used to get a deeper insight (in the case of online stores with lower penetration, the general sample is not enough) towards an individual online store/brand by applying a boost sample (additional survey).
This option allows the trades to use the same indicators and to be compared with the overall market.
KEY INDICATORS IN THE REPORT
We use a standardized questionnaire and measure the last online purchase. Online shopping is defined as online ordering of any product or service through an online store or mobile application.
EXPERIENCE OF THE WEB BUYER WITH THE LAST PURCHASE
The relationship to the web store consists of an index that represents the level of loyalty to the retailer where the last purchase was made and includes an analysis of individual elements of loyalty. The index was calculated on a scale from 0 to 100 according to the principle of scoring according to the results of indicators: general satisfaction, fulfillment of expectations, recommendation, repeated selection and perception of comparison with competing stores.
The shopping experience represents the rated satisfaction in the last interaction, i.e. with the last online purchase in the store. The analysis covers the following dimensions: offer, shopping experience, user experience and added value. An importance factor is added to each element, and the index is calculated on a scale from 0 to 100 and the importance of the element is weighted.
We show the flow of online consumer purchases through three key stages: incentive, research and final motivators. Each stage through these experience points affects the completion of the purchase. For merchants and others involved in online business, this is a valuable source of information on how a customer, in individual cases, makes a purchase decision. Experience points represent every event in which the customer had contact with the product he bought or with the brand of the retailer he bought the product from.
INCENTIVE RESEARCH – THE ULTIMATE MOTIVATOR PURCHASE
Customers are described in the report through demographic and user characteristics such as frequency of purchase, payment methods, delivery choices, purchase and product category they purchased.
The key advantage of eCommerce reports is the possibility of different comparisons or benchmarks:
- according to a representative sample of all online shoppers who made a purchase
- according to purchases in stores of the same category
- according to the purchase in a certain product group
- according to other target groups of customers
Comparisons of other target groups are always related to customers of a representative sample. They are shown through the absolute deviations of the results from the average of the store category (or other target groups). The report also includes 1-year comparisons, if available. Comparisons over time are also shown through absolute deviations from the previous year’s results.
METHODOLOGICAL RESEARCH DATA
Method: Online research using CAWI (Computer Assisted Web Interviewing) method
Time of implementation: February 2023.
Unit of observation: Online purchases made, last purchase
Online customers: 3,014