Petaluma, CA—In the latest figures for third quarter, an e-commerce report finds that cultural shifts in shopping habits are revealing change in traditional metrics.
For example: Mobile is creating a trend toward lower conversation rates and shorter time-on-site metrics caused by more shopping researching products on their mobile phones and completing their purchases at a later time.
According to MarketLive, a Total Commerce platform for high-growth merchants, today the The aggregate customer performance metrics revealed overall positive results, led by gains in share-of-revenue coming from mobile devices and social recommendations. The report also revealed that merchants should not ignore the power of social and refer-a-friend recommendations.
Highlights from the Q3 Performance Index: (all numbers Q3’13 vs. Q3’14 YOY):
- Traffic coming from smartphones is up 62%
- Revenue from smartphones increased 141%
- Social recommendations now account for 2% of all traffic and 1% of all revenue–representing small but important shifts in how shoppers are influenced
- Total traffic across all MarketLive customers increased 9.7%
- Organic search made gains as both a traffic source (up 13%) and revenue source (up 6%)
- Email as a traffic and as a revenue source both increased 24%
“We’ve been watching social recommendations for some time, waiting for it to register a significant contribution to revenues at the cash register. We’re finally seeing a small-but-tangible signal now in our Q3 Performance Index, and that result is corroborated by our recent Holiday Survey results as well,” said Ken Burke, founder/ceo of MarketLive. “The strong performance in mobile is something we’ve been expecting, as mobile commerce has been growing dramatically for several quarters already. At this point, it should send a cautionary note to all merchants that a strong mobile strategy is no longer optional, but rather a necessary and critical component for brick-and-mortar and online retailers alike.”
About the Survey
MarketLive’s Performance Index Vol. 26 details year-over-year online retailing performance among its omni-channel commerce customers. The survey results are broken out by retail sector and key performance metrics including average customer visits, average order size, conversion rates, and more. The report also tracks path to purchase, cart abandonment data and offers online retailing tips and best practices, based on the real-world buying behavior of millions of online consumers. Interested companies may complete an online form to request Volume 26: http://www.marketlive.com/how-we-think/commerce-strategies.html