 What's going to get us welcome back to another video. So in this one, I've got eight really interesting statistics about e-commerce that I want to share with you and hopefully you'll find them interesting too. If you're serious about making dropship and work or making your e-commerce business work, then you'll want to know and hear all of these statistics because they're things that consumers do, behaviors that consumers have, changes and things that you can do to your website to help improve your conversion rates. So make sure you stick with me through the entire video and fingers crossed there'll be at least one thing in here that you'll learn and be able to take away that ultimately will help you be more successful in your own stores. So I don't want to waste any more time. Let's jump straight into statistic number one, which is page load times. If you're new to e-commerce, new to Shopify, new to dropship in, then you probably never given page load times a thought depending on what theme you're using, how many third party apps you have installed. It can really affect the loading times of your store and it is super, super important that you get that time to as small as possible. There's different websites out there called GTmetrics is the one that I use. You can put your store URL into there and it will tell you the sorts of things you can do to improve your page load times. And to illustrate how important this is then I have this study done by Amazon. You can go out and Google it. There's lots of different sources and they all pretty much say the same thing. So Amazon did a study every 100 milliseconds in added page load time cost them 1% in revenue. So back in 2006, Amazon found that every 100 milliseconds in added page load time cost them 1% in sales. For context, just to skip this part because it's not relevant for context, a 1% loss of annual revenue for Amazon in 2006 would have been around $107 million. And in today's times, so in 2001 when this study was updated, that would have been the $3.8 billion. So essentially they'd be losing $3.8 billion for every added 100 milliseconds to their page load times. Now obviously we don't get anywhere near the amount of traffic that Amazon gets but the same is still true for us. If somebody clicks on your ad and your store takes forever to load, we live in a world now where people are so easily distracted. They have short attention spans plus they're looking at your ad, they're looking at your store on a mobile phone device. That's probably the biggest distraction device there is. There's so many different things they can get distracted by. They might get a text message, they might get a WhatsApp message, they might get a Snapchat, a TikTok, a phone call, whatever it may be. So just try and make your store as quick as possible and also try and streamline that ad to cart and purchase process as much as possible as well. Moving on to statistic number two, there's a bit more than one in this one. So this is the top reasons people shop online in 2020. The source is Global Web Index and it's re-quoted by Oberlo who are typically quite a reliable source as well. So number one is free delivery, 53% over half the people that go to your store will be expecting free delivery. So if you're not offering free delivery then it's probably gonna hurt your conversion rate. Number two, coupons and discounts as well. And this was quite surprising even for myself when I saw this. So typically what I do now is in the like announcement bar at the top, I'll put use code NEW10 or whatever for new customers to get 10% off. At least that way people feel like they're getting rewarded and for shopping with you. You can also use things like claveo to have those pop-ups you've probably seen them before where people can import their email address in return for 10, 15, 20% discount, whatever it may be. Reviews from other customers, 35% so that's obviously a biggie as well. If you have no reviews on your store this is gonna harm your conversion rate. Easy returns policy. This one was quite surprising for me. What it doesn't do is it doesn't tell you where these statistics, what industries they're taken from. This could be more relevant to like if you're selling clothes, that sort of thing. People wanna know it's gonna be easy to return their item if they don't like it, if it doesn't fit whatever it may be. But even being said, it's quite easy to add a tab to your product page to lay out and map out exactly what your returns policy is just to put your customer's mind at ease. The next one is quick and easy online checkout process. So if you're using Shopify then I don't think you'll have any troubles there. Next day delivery, we can't really do that either unless you're sourcing local to local. Loyalty points is something that I don't typically put much thought. When I say much none at all I don't implement that on my own stores. Lots of good comments on social media, that's a big one. Social proof, super, super important. So try and get friends and family. Try and get those links of your ads and links of those posts to send to your customers to go there and leave a review there. Knowing the product is environmentally friendly depending on what you're selling of course. And last but certainly not least is ability to spread payments without interest. I think today as well, 2023, the way the world is going, more and more people will be looking to do this sort of thing. So having planner or equivalent on your store to allow people to do this is definitely gonna be a positive for your conversion rate. Average number of reviews consumers read online. So over half of every single consumer that will go to your store in theory on average read at least four reviews before buying a product. So me personally, I can't remember the last time I bought anything without at least checking out the business or just doing my own kind of due diligence to make sure it's a decent product. So it's crucially important to your success that you do the same and try and build up those reviews for your products as fast as possible. The next one, Apple Pay alone has over 383 million users worldwide which is more than five times the number of people in the UK alone. So this in itself is obviously a significant amount of people. Gone are the days I think or they're certainly leaving us where people will hold their phone in one hand and their debit card in the other hand. Most people now will use Apple Pay will use Google Pay. So they haven't got to go and find their debit or credit card and import the information. They just wanna use their face or put in their password and have their card details automatically imported. So if you don't have Google Pay or Apple Pay or PayPal, those sorts of things on your store which allow people to do that, then again, it's definitely gonna be harm in your conversion rate. Device usage then of Facebook users worldwide as of January 2022. I wanted to include this one because the primary kind of marketing platform that I use is Facebook. It's what I talk about mostly on this channel. So to me, I find this really interesting. So 98.5% is any kind of mobile phone. 1.5 is purely a laptop or desktop user. So tiny, tiny percentage. 16% use both phones and computers and then over 80% use Facebook with a mobile phone device only. So what can we take away from this then? Essentially, unless you're specifically narrowing down to desktop users or narrowing down to mobile users, then pretty much 80% probably higher of the people who see your ads are gonna be seeing it in a mobile format. And therefore you need to be making sure your Shopify store is optimized, the design, the layout, everything in a mobile format. And you also need to make sure that your ad creatives too are designed and made for mobile formats. Next, we have the distribution of Facebook users worldwide as of January 2023. What we can see and take from this is the average user age is probably around 34, maybe a little bit higher, probably a bit higher actually, probably more towards this kind of 35 to 44 range. So what this tells us is if you're selling a product which is targeted towards an 18, 19 year old, a teenager or in their young 20s, then Facebook probably isn't your best bet. Facebook, at least from my own experience, speaking from my own experience, is definitely kind of 45 plus females that tend to be the strongest buyers. Moving on to impulse buying. So the average online shopper, this is in the UK as well, spends 32 pounds, 69 pence per session. Essentially what that means is that when somebody makes an impulse buy, so an impulse buy is a buy that somebody isn't planning to make, they'll see an offer or they'll see something for sale and they just decided to buy it there and then on impulse. And what this study, what this blog post is saying is that on average people spend about 30 pounds per impulse buy. So the way this translates or the way it's relevant to us is that if we're selling a product that is say 60 pounds, double the average amount, it's gonna be a lot harder to convince somebody to buy a product for 60 pounds on impulse, then it is a product that's say 30 pounds. So what you may have to do is tag a smaller audience and repeat the tagging or repeat the running of the ad to that small audience. So basically they might have to see your ad two or three, four, maybe even five or six times before they buy that 60 pound product. They might not buy it the very first time they see it. The last statistic that I wanna share with you guys, so this is taken straight from Shopify themselves. So what's a good conversion rate for your store? The latest benchmark shows the average conversion rate for e-commerce sites is 3.65%. As a new store owner, a good conversion goal is to aim for, to aim for is between two and 3%. The following conversion rate optimization strategies were blah, blah, blah, blah. So basically what you need to take from this is that when you've got a bit of traction and you're getting a kind of consistent amount of people hitting your store, visiting your store, Shopify will be able to give you a conversion rate and just make sure it's somewhere between two and 3%. And if it is, then you're on good track. If it's not, then you know obviously that you need to make some changes. You may need to have a better offer. You may need to, if we go back to these things which we spoke about, you may need to offer free delivery, an extra coupon and discount, split the payments, whatever it may be. And so with that being said guys, I'm gonna wrap the video up. They're all eight statistics. I hope you found this video useful. Hope you take some of the valuable away from it. Before I go then, I just wanna mention the free training that I have. So it's 100% free, won't cost you any money whatsoever. It is one to two hours long. It's quite a long training. I do cover a lot of information. So make sure you block out some time and when you're ready to watch it, bring along a notepad and pen as well because essentially I'll show you all of the steps that you need to take to launch your business in the next three weeks. It may sound a bit far fetched, but it is doable as long as you know what those steps are and you have the right game plan or master plan if you like to follow. And that's exactly what I show you in the video. In case the training isn't for you, you won't come away empty handed. So everybody who does watch it gets a free copy of an e-book that I personally put together myself and it has 194 profitable product ideas for 2023. So if you wanna get your hands on a copy of that, head to the first link in the description below, sign up, watch the training and it will show you how to get a copy of that. Thanks for watching guys. Hope you enjoyed this one and I'll see you in the next one on Wednesday. Thanks.