The Retail Sector is Set for $13.8 Billion Loss on Black Friday

Black Friday is an important occasion for retailers because of the fact that this is the sort of thing that could potentially end up allowing them to empty out their stock in preparation for the new year. However, ad spends from retailers fell by 26% in the month of August alone. Furthermore, CPC saw a 12% decrease in the same period. This might create a ripple effect that could seriously hamper retailers in the near future.

According to a recent survey conducted by Nosto, simple searching errors in sites could result in a whopping $13.8 billion loss for retailers with all things having been considered and taken into account. 42% of the people that responded to this survey stated that they left the site because they weren’t receiving all that many relative results based on the search queries they were putting in.

However, this does not necessarily mean that more results will create a superior experience. It turns out that 31% of survey respondents exited a site simply due to the enormous quantity of results they received. They also mentioned how difficult it was to sift through these results with the use of filters.

With all of that having been said and now out of the way, it is important to note that 31% also indicated that they were being shown items that were out of stock. Finally, 32% said that they were being forced to wait far too long before the search results appeared to them.

All in all, 84% of visitors to the websites that are owned by retailers said that they left due to issues pertaining to search. This confirms that poor search performance can make revenue from Black Friday and Cyber Monday sales lower than might have been the case otherwise. 66% of survey respondents admitted that any type of relevant content that is shown to them in the search results page would encourage them to make a purchase. 64% stated that interacting with this content directly led to them making a purchase, which just goes to show how important search optimization can be.

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