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Cautious shoppers respond to trust seals

Posted by Michael Bloch in ecommerce (Saturday April 24, 2010 )

McAfee recently analyzed the online shopping behavior of more than 163 million visitors and the millions of purchases they made over a two year period with some interesting results in relation to trust seals.

Of the 2.5 million purchases tracked by McAfee, the average delay between an online shopper receiving a cookie (i.e. tracking commenced) and purchase was 33 hours 54 minutes, similar to results since 2007.

Nearly 32 percent of the 163 million visitors studied took between one and two days to complete a purchase.

On average, consumers who were shown a McAfee “trustmark” converted to buyers at a rate 10.85 percent higher than those who did not see the mark. A trust mark (also known as a trust seal or security seal) is a form of 3rd party verification stating you are who you say you are and your online store is secure.

“Cautious consumers”, meaning those who waited more than a day before completing a purchase, converted at a rate of 11.33 percent, a 4.4 percent increase over the average improvement, when shown a trust seal.

Shoppers who delayed their purchases for more than 5 days were even more responsive to security trustmarks – converting at a rate of 12.77% higher than those who weren’t shown the security seals.

McAfee’s findings demonstrate displaying 3rd party security/trust seals on ecommerce web sites continues to prove to be an effective way to boost conversion rates – and it’s a very economical way to reduce shopping cart abandonment.

When you consider the cost of security seals, also consider what 10% extra added to your bottom line each year through their use would amount to.

You can read more of the McAfee report here (PDF).



 

 
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