Product recommendations are responsible for an average of 10%-30% of ecommerce site revenues.
However, with so many ways to present product recommendations, I’ve decided to highlight four facts based on anonymous aggregated data collected from 50m sessions that were exposed to product recommendations.
Keeping these four facts in mind can really make a difference in generating what can be up to a third of your site’s revenue.
Mobile commerce is very much here and now. A fifth of all online spend now is now on mobile, accounting for around £8bn. That’s a huge figure, and it’s only going to increase.
So what are the key trends that are driving this growth? We’ve highlighted three here.
Since 2010, mobile’s share of ecommerce traffic has grown from 3.5% to 36.9% with mobile revenue rising from $2bn to $42bn.
Knowing where, and how, to get customers to embrace this growth will separate your online store from the rest of the pack.
As an online retailer, you know it would be foolish to ignore mobile, but knowing where to start can be tricky.
Mobile first is not a luxury but a necessity if your ecommerce business is to keep pace with the rapid growth in mobile use.
One in five people in the world own a smartphone and one in 17 own a tablet, according to BI Intelligence.
Revenues from mobile sales in Europe and the US continue to grow dramatically too. In the last four years they are up from 2.2% in 2010 and predicted to grow to 23% by the end of 2014, meaning transactions made on the go will be worth $101bn.
Research from Intelligent Positioning showed that mobile and tablet traffic is also set to overtake that from the desktop this summer.
Last year mobile traffic increased from 23% to 37% whilst desktop’s share dropped from 77% to 63% in the same year.
It found that over a third of all traffic is now coming from a handheld mobile or tablet device.
The July update to the ecommerce section of our Internet Statistics Compendium has seen some fascinating additions from a wealth of resources.
As usual, we’ve collected what we deem to be the most interesting digital trends from the latest round of data across the web.
For more information see our ISC and our best-of-the-week blog posts.
Summer is the season for live events like concerts, baseball games, music festivals and more.
Previously seen as simply a one-way advertising opportunity, mobile’s ability to facilitate a conversation with consumers has transformed live events into a key component of cross-channel marketing efforts.
This allows for consumers to become part of the event – whether in person or watching it on television. However, just like any program, a campaign built around a live event requires preparation that identifies goals and key messages to ensure it’s a measurable success.
Arguably this summer’s most talked about sporting event is the World Cup.
And, according to a study conducted by Interactive Advertising Bureau on device usage, nearly half of soccer fans worldwide who own smartphones intend to follow the games via their phone.
Chinese ecommerce giant Alibaba has captured the West’s attention recently thanks to its upcoming IPO and the launch of a new US marketplace called 11 Main.
However we’d be foolish to overlook its main rival in China, Tencent, which is equally capable of branching out for world domination.
The listed company has a market cap of more than $150bn and a portfolio of products that includes QQ instant messenger (818m monthly active users), Tencent Mail (274m), and Tencent Weibo (22m).
However most people will probably be more familiar with Tencent’s WeChat messenger app, which is seen as a rival to Facebook’s WhatsApp.
However unlike Facebook, Tencent makes most of its money from video games and sales of digital goods, with only 9% coming from ads.
To shed more light on the size of Tencent’s business empire, I’ve rounded up a whole load of stats on its user numbers and revenues.
And for more of the same, read my posts looking at 30+ amazing stats on Alibaba and discussing whether innovation by Chinese social networks gives a glimpse of Facebook’s future…
Mobile, social and the Internet of Things are transforming the trajectory of the customer journey.
The straight shot from discovery to checkout no longer exists. Instead, it has been replaced by a zigzagging, interwoven path of touchpoints, screens and interactions.
A few years ago businesses could be forgiven for their failure to react quickly enough to the massive shift to mobile technologies, as it was difficult to predict just how big an impact smartphones would have on the customer journey.
However new research from Econsultancy and Adobe shows that even now many companies still haven’t implemented an effective mobile strategy.
In fact only a third of respondents (36%) agree that they have a mobile strategy compared to 45% who disagree.
The Finding the Path to Mobile Maturity Briefing provides data and insights for those wishing to benchmark their own activities around mobile, and to elevate the importance of related business initiatives within their organisations.
The report is based on a global survey of 600 client-side and agency marketers carried out in March and April 2014.
Here are three key findings:
In the classic late 80s film “Field of Dreams,” Kevin Costner is inspired to turn his cornfield into a baseball field after hearing a mysterious voice whisper the famous line, “If you build it, he will come.”
Indeed, the ghost of Shoeless Joe Jackson soon shows up, followed closely by the Chicago Black Sox and half of the town.
Unfortunately, many marketers believe that if they only build an ‘awesome’ website, the customers will start pouring in. But what happens when visitors show up and, instead of playing ball and inviting all their friends, turn right around and leave?
Building a ‘site of dreams’ requires a whole lot more than a pretty hero image and scrollspy navigation. To truly capture and engage today’s consumers, brands must focus on creating an immersive, interactive user experience that spans channels and devices.
Here are three UX pitfalls causing your customers to abandon your site, and how to make them stay.
Ryanair is a unique brand. It managed to become one of Europe’s most-successful airlines despite a reputation for poor service that occasionally bordered on contempt for its own customers.
The ‘no frills’, challenger brand ethos became such an important part of Ryanair’s image and tone of voice that it ended up antagonising consumers as well as the competition.
But changing consumer expectations and mass adoption of digital technology means that Ryanair risks being left behind if it doesn’t change its ways, so new CMO Kenny Jacobs has been tasked with overhauling the customer experience and improving people’s perceptions of the brand.
The airline’s appeal comes from its low prices and massive choice of routes, so that has to remain intact if the business is to continue growing. Therefore Jacobs is focusing much of his efforts on improving the digital experience.
Amazon has unveiled a new hashtag that allows shoppers to add items to their cart without leaving Twitter.
Known as #AmazonBasket in the UK and #AmazonCart in the US, it marks an interesting step forward in social commerce. But is it really that useful?
Before we answer that question, I thought I’d see how easy it was to setup and use the tool.
The first step is to register your Twitter account with Amazon, which is probably the fiddliest part of the process.
Once that is sorted users simply need to reply using the hashtag to any tweet that includes an Amazon product link.