- Most eCommerce sites have a 4% conversion rate (though some like Amazon and QVC have conversion rates of 20% and 17% respectively).
- Of the top 100 eTailers only 35 have conversion rates over 5%. (source: getelastic.com)
- 81% of shoppers are more likely to buy online with easy returns. (source: IR)
- According to Brian Eisenberg (FutureNow) first time visitors typically convert 2% while repeat shoppers convert 8%.
- One of the largest segments of your visitor population is the first time visitor, representing between 60-80% of your traffic. (Brian Eisenberg, FutureNow)
- Online commerce, at $156 billion, represents 10% of total retail sales. Growing at 10% YOY.
- Retail is 60% of US economy.
- 40% of all online visitors use insite search.
- 25% of online shoppers abandon their shopping cart. (Forrester)
- 47% of e-commerce sites do not know their abandonment rate. (Internet Retailer Magazine)
- 40% of online shoppers are dissatisfied with their online purchase experience. (Forrester)
- Of the top 100 eTailers those that did not ask for CVV numbers have a 40% higher conversion rate. (source: getelastic.com)
- Nearly three-quarters of shoppers will leave an ecommerce site within two minutes of not finding the products they are looking for. (source: internetretailer.com)
- 40% of Americans return at least one gift after the holidays. (source: National Retail Federation)
- According to a Jupiter Research article more people write a product review about a product they like vs a product they don’t like (9% vs. 4%). [Source: SiteBrand]
- According to Forrester 83% of shoppers place greatest trust on friends or acquaintances who have used a product or service.
- In a study of online retailers it was found 27% of visitors intended to buy but only two-thirds actually bought. Amongst those that intended to buy but didn’t 31% wanted better product selection, 24% desired better shipping options, 17% cited problems with the online shopping cart, and 14% said prices were too high. Translation: you’re existing customer base is spending 33% less than they intend to! [Source: GrokDotCom]
- There are 48,000 Yahoo! ecommerce stores [IR]
- Retailers need to switch their mindset. Rather than thinking, “I have a store and a website [two separate entities].” They need to start thinking, “I have an online business with a physical manifestation.” – Paco Underhill
- 74% of comments about products are transmitted through face to face conversations (Source: The Anatomy of Buzz Revisited)
- It’s estimated that 1/4 of all retail transactions will occur online by 2012 (Source: Elastic Path blog post)
- The combined sales of the 500 largest web retailers in 2008 grew nearly eight times faster than the overall market. (Soure: IR)
- According to a 2005 comScore study, people perform an average of 13 searches before converting (Source: Elastic Path blog post)
- One of the worst culprits for friction in the checkout process is required registration. Forrester Research reports that 23% of customers abandoned the last online store that asked them to register (Source: Elastic Path blog post)
- Cross-sells were responsible for 35% of amazon.com sales in 2006 (source: Get Elastic blog article)
- 90% of polled online shoppers claim they would have completed (an otherwise abandoned sale) if they saw security logos (Source: Get Elastic blog article)
[...] using video as a selling tool earlier. Maybe it was a cost function or maybe retailers felt that 4% conversion rates were good enough but as usual youth oriented retailers seem to have taken the lead here too. [...]
[...] Still Haven’t Found What I’m Looking For 40% of online visitors to a site use search functionality. But onsite search is still a very poor way [...]
[...] Without a doubt this is the most interesting brainteaser in all of eCommerce land: 1/3rd of all online shoppers leave their shopping carts. People abandon for a number of [...]
[...] Fact 1: 40% of all visitors use onsite [...]