The Huge Effect E-commerce Monitoring Has On Your Profit
How a millisecond delay in your web applications affects your yearly revenue
Most of us have experienced unpleasant queues in retail stores at some point in our lives. Forfeiting from a purchase at a physical store to avoid the wait in line is no uncommon occurrence. This issue, however, is extremely common on e-commerce websites as well, especially in high seasons such as Black Friday and Christmas. Shopping carts are abandoned very frequently from customers, be it online or physical.
Why are e-commerce monitoring tools important?
A recent study by Baymard Institute shows that the average online shopping cart abandonment rate is 69.23%. The reason for that is almost always the same – too long of a process, errors, and website crashes. This situation is very damaging to the business and brings several losses to the revenue. Monitoring the performance of the website, including loading time of pages, thus, must be treated very carefully by e-commerce firms.
A strategy used by the leading retailers to avoid losses from bugs and delays on their web pages is to gather and examine their load times. For instance, Amazon discovered that a slower page load by just 1/10th of a second resulted in a 1% decrease in sales. 1% may not seem so expressive, but relative to its 2017 net sales revenue, it is a loss of almost 2 billion dollars. Walmart, in turn, observed a 2% increase on their conversion rate with a 1-second faster-loading page.
TestCraft’s live e-commerce monitoring
TestCraft acknowledges the importance of live monitoring tools and is already in collaboration with e-commerce firms to ensure their smooth running web applications. TestCraft can define a threshold for a specific process to be complete – the user can decide on the time limit for a specific step, and if the test surpasses that limit, it fails. This is essential for the survival of every e-commerce firm, as consumers expect nothing less than a sharp online experience.
Devs waste around 1500 hours per year on fixing bugs!
To solve issues related to website performance, it is necessary to have the right resources and live monitoring tools. It is estimated that e-commerce developers and product managers spend 75% of their time fixing web application issues and delays, that is 1500 hours per year! Imagine if this time was rather spent on sales or on marketing strategies…