Current thinking for ecommerce performance analysis is usually based on site-wide metrics, and overall conversion rates. Although there’s a lot of valuse in this big-picture approach, it can also miss the most crucial insights.
Truly effective e-commerce optimisation lies in analysing each individual product’s journey from view to purchase. By examining product-specific funnels, online retailers can identify unique issues affecting individual items, optimise at a granular level, and improve their bottom line.
RetailX’s dedicated product analysis dashboard enables this approach, making it simple to spot potential conversion issues at each step of the customer journey.
The Four Stages of Product Funnel Analysis
1. Product Views
The journey begins when a customer views your product. High view counts, but low progression to the next stage may be signs that:
- Product images aren’t compelling enough.
- Product descriptions lack necessary details.
- Pricing isn’t competitive or transparent.
- Product benefits aren’t clearly communicated.
2. Add to Cart
This crucial step shows purchase intent. Low add-to-cart rates despite high views suggest:
- Unclear call-to-action buttons.
- Missing size/colour options.
- Limited product variations.
- Concerns about product quality.
- Unexpected shipping costs or policies.
3. Checkout Initiation
When customers begin checkout but don’t complete it, look for:
- Complicated checkout processes.
- Unexpected additional costs.
- Limited payment options.
- Security concerns.
- Account creation requirements that create friction.
4. Completed Purchases
The final conversion. Analysing purchase completion rates helps identify:
- Payment processing issues.
- Final price concerns.
- Last-minute doubts about product or brand.
- Technical problems during payment submission.
Product-Level Analysis Vs Site-Wide Analysis
Beyond The Big Picture
While overall site metrics might show acceptable conversion rates, they often mask serious problems with specific products. A 3% site-wide conversion rate might include products that convert at 10%, and others that convert at 0.5%.
Product-Specific Conversion Barriers
Each product faces unique challenges. A furniture item might have sizing concerns, while electronics might face technical specification questions. Only product-level analysis reveals these specific barriers.
Targeted Optimisation Opportunities
Instead of making large-scale changes to your entire site, product-level analysis let you implement precise fixes for specific items; changing images for one product, adjusting description detail for another, or modifying pricing presentation for a third.
ROI Prioritisation
By identifying which high-potential products have fixable conversion issues, you can prioritise improvements that will generate the greatest revenue gains with minimal effort.
Product-Level Optimisation Strategy
Identify Outlier Products
Find products with metrics that deviate significantly from category averages, both those that under-perform, and those that exceed expectations.
Analyse Stage-by-Stage for Each Product
For each product, examine where in the funnel it loses customers:
- High views but low add-to-cart? The product presentation needs work.
- High add-to-cart but low checkout? The product may have issues with options, availability, or shipping.
- High checkout initiation but low purchases? The price relative to perceived value might be problematic.
Learn From Your Winners
Study your best-converting products to understand what makes them successful, then apply those lessons to similar products.
Create Product-Specific Tests
Rather than testing site-wide changes, implement product-specific A/B tests targeting each item’s unique conversion challenges.
Gather Product-Specific Feedback
Use exit surveys that trigger when specific products are abandoned, asking targeted questions about that particular item.
Fix One Product at a Time
Focus your optimisation efforts on a single product until its metrics improve, then move to the next high-potential opportunity.
A Product-First Approach to E-commerce Optimisation
Many e-commerce retailers make the mistake of trying to optimise their entire website at once. They see conversion problems and implement site-wide changes, hoping to lift all products simultaneously. This broad-brush approach almost always yields disappointing results.
The most successful online retailers know that product-specific optimisation is the key to dramatic conversion improvements. Each product has its own unique customer journey, specific objections to overcome, and individual conversion barriers to address.
With RetailX’s product-level approach, you can:
- Make precise, targeted improvements with immediate impact.
- Address the actual reasons why specific products aren’t converting.
- Create optimisation priorities based on revenue potential.
- Develop best practices that can be applied to similar products.
- Achieve measurable ROI on your optimisation efforts.
RetailX is specifically designed for online retailers who want to maximise their e-commerce performance.
Unlike traditional analytics that only show site-wide metrics, RetailX provides detailed conversion funnels for each individual product, allowing you to quickly identify which products need attention, and exactly what’s wrong with them. Stop guessing what’s holding back your e-commerce performance and start optimising where it matters most: At the product level.