There are many factors that can influence this loss. I’ll address these in the following paragraphs as this case can go beyond ‘the product’ as a website.
- Brand/Marketing - especially if we’re talking fashion e-commerce. A strong brand is essentially what wins the sales.
- Pictures - are the photos of the product appealing enough? Are they interpreting product properly? Are you showcasing the product from different angles/in detail? When it comes to fashion, the goal is to showcase the product in the context so you can imagine yourself wearing/using it. Well put together (aspirational) photos win. Test it out. Maybe you can utilize blogger to freshen things up.
- Funnel - Is your funnel optimized correctly? Where all those churned people came from? Were they really looking for the product or just landed accidentally? I’d investigate and look for the patterns.
- Hacks - here are few ideas to try:
a) product copy - A/B test different (compelling) product copy
b) incentive - adding a banner with discount code
c) adding a banner with a number on how many people bought this product/are looking at the product right now (inspired by booking.com )
d) adding complementary products on the page can increase browsing time and eventually sales
**If you have a substantial number of visitors (ca 100-200k/month) it might be worth to investigate and try out marketing experience tools. These enable you to optimize the web experience/marketing activities based on your visitor’s behavior. On scale.
These are the things I’ll look into, identify what’s happening and prioritize based on insights. Happy to dig deeper if you happen to have further questions!