Conversion Rate Optimization and e-commerce: a quantitative and qualitative analysis applied to a Watch Marketplace.

Abstract

The purpose of this Master’s Degree Thesis in Innovation and Marketing is to understand what are the motivations that lead a user first to interact with an e-commerce and consequently to conclude the purchase in it. In order to achieve the previously mentioned purpose, will be analyzed and tested a Watch Marketplace. Often we are led to believe that a higher conversion rate is directly related to the accuracy of the graphic aspect of the web pages or to the correct observance of psychological principles and best practices. However, in this work it will be shown that the actions that users take online are not always easy to read and predict. The Thesis will be mainly divided into 4 sections: Initially, will be carried out a research whose main objective is to examine the current Italian and global situation regarding e-commerce and CRO. This first part will also provide an overview of the main psychological principles used today in structuring an online store; furthermore it will also present the main tools at our disposal to analyze the effectiveness of the various sections of an e-commerce. The body of the paper will be related to Kechiq, a marketplace that sells watches online; in fact it will be carried out a qualitative and quantitative analysis of the website. Thanks to this analysis, we’ll be able to detect the main pages and elements to work on in order to improve the conversion rate. Finally, will be carried out several A/B tests. The formulation of the tests is the result of observations and hypotheses deriving from the analysis of the marketplace, always taking into consideration the psychological principles and best practices found in the first part of this work. Conclusions will be drawn from the 3 previous sections. The topics covered are of particular relevance because today we are witnessing a massive increase in both demand and supply with regard to e-commerce, so it is essential to limit as much as possible the loss of potential customers.