The web-only e-retailer of home furnishings has been on a fast growth trajectory, with web sales reaching $1 billion in 2013. Wayfair has raised ...
Online shoppers spending more, but are less patient about site problems
A survey from Tealeaf Technology says consumers are shopping online more often.
Online shoppers have less patience for site problems that delay transactions, but consumers are shopping more often and spending more than last year at online retail sites, suggest survey data from web site analytics provider Tealeaf Technology Inc.
The findings are based on a survey conducted between July 15 and July 19 of 2,104 U.S. consumers by Harris Interactive.
According to survey results, consumers shop online an average of 3.4 times per month, up from 3.1 times in 2009. 29% of consumers shop online only once a month, down from 37% last year. 16% of consumers shop online four or five times per month, up from 14% last year.
Online shoppers spend an average of $123.20 per transaction, up from $101.60 in 2009.
Consumers seem less willing, however, to give online retailers another chance if the first online transaction fails to go through, the survey suggests. 18% of consumers would try again to complete the transaction, regardless of how long it would take, compared with 23% who said the same thing in 2009. 26% would try the transaction at a competing web site, up slightly from 25% last year.
But retailers with faulty sites are not totally out of luck. 65% of consumers would try to contact customer service to resolve the problem, up from 55% last year.
Such site problems can cost retailers $44.6 billion in lost annual revenue, Tealeaf says, extrapolating from data on U.S. e-commerce sales.