E‑commerce retailers are expecting a strong holiday season. That’s part of the news from MarketLive’s MidYear Benchmark Report. The retailers included in this report give a snapshot of how the online retail market is faring this year and what the future holds.
While the entire retail sector has been slow growing this year and Amazon has upped the competitive pressure in the online universe, the businesses in the MarketLive study are enjoying a 15% revenue increase so far, on average, when compared to last year. The topline metrics look like this:
- Average increase in visits: 10.9%
- Average order size: $151.51
- % Conversion: 2.29%
While 86.6% of revenue stems from desktop-based orders, tablets account for 11.8%, and smartphones for 2.7%. These numbers may be deceiving though, because 1/3 of traffic to these sites originate with a smartphone or tablet device, a detail which suggests that the mobile format will play an important role for holiday shoppers this year.
The vendors in this study showed significant variation in performance improvement by industry type. For example, e‑commerce companies with a home products line (think furniture and housewares) saw a 34.3% increase in revenue. Similarly, marketers who also operate bricks and mortar stores had a 22.8% jump in their online revenue. The best conversation rate, 3.2%, belongs to catalog operators, while apparel had the second-best rate at 3.0%.
To prepare for the holiday shopping season, analysts are encouraging marketers to improve their search strategies to bring visitors to their sites, strengthen the content quality and connections on the sites, and optimize separate formats for mobile traffic.
To learn more about Online Shoppers, check out the Audience Interests & Intent Report available at the Research Store on ad-ology.com.