A year ago a shopper posted a video of herself on TikTok buying clothes from Zara, then strolling into an H&M store next door to try them on because Zara’s fitting rooms were closed—before going back to H&M to return the items she didn’t like. It went viral, but more importantly it underscored the fact that a majority of people like to try merchandise on before purchasing.
Although ecommerce accelerated during the pandemic, conversion rates still hover around 3%, whereas in-store conversion is more than 20%, says Donny Ouyang, the founder and CEO of Toronto-based Blackcart.
To help online merchants boost that metric, Blackcart runs a risk score on buyers which makes them eligible–or not–for a “try before you buy” option.
Donny joins us on this episode of Rise of the Next to tell us how he stumbled on that idea, and some of the trends he sees shaping ecommerce.
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