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Latest report finds "laser-focused" international buyers trending away from browsing activities and toward buying activities
PHILADELPHIA, June 10, 2014 /PRNewswire/ -- Today Monetate, the leading provider of testing and targeting, email optimization and personalization solutions, announced the launch of its latest Ecommerce Quarterly report (EQ1 2014). For the first time ever, Monetate has expanded its EQ report to represent the full breadth of the Company's global footprint – bringing a wider lens to the state of ecommerce both in the US and Europe. The latest EQ also reveals that ecommerce customers are moving from browsers to buyers, all while becoming increasingly more mobile.
Download a free copy of the Monetate Ecommerce Quarterly (EQ1 2014) here.
"Ecommerce is an international venture and continues to blur traditional boundary lines. We recognized this two years ago when we opened our London office, and our dramatic growth in the region – over 300% European revenue growth in the past year – further supports this," said David Brussin, founder and CEO, Monetate. "It seemed only fitting that our popular EQ report fully reflect the breadth of Monetate's global footprint – highlighting not only US ecommerce performance benchmarks, but those in the UK and Germany, as well."
One of the biggest trends uncovered in the latest version of Monetate's EQ is that ecommerce customers are quickly changing from browsers to buyers.
This reality is illustrated by year-over-year increases in conversion rates (11 percent), revenue per session (47 percent), and average order value (33 percent), and year-over-year declines in traffic (-17 percent) and pageviews (-23 percent).
Furthermore, year-over-year traffic numbers for search, social and advertising are down 10 percent, 39 percent and 41 percent, respectively, with year-over-year shares of referring traffic for social and advertising down as well. Despite these declining traffic numbers, these channels – in total – are making companies more money now than they were a year ago.
"Research and evaluation that takes place before the customer reaches your site has traditionally been reserved for high value purchases. But as social and shopping channels increase, we're seeing this threshold fade and our EQ data supports that," continued Brussin. "By the time customers reach your site, they've likely been exposed to something that peaked their interest and pushed them into 'buy mode.' As a result, it has become increasingly clear that creating highly relevant and personalized multi-channel experiences for your customers is now a requirement for strong growth."
Additionally, this EQ report details the continued encroachment of tablets on traditional computers, with US tablet conversion rates up 2.64 percent, and tablet AOV up 20 percent year-over-year, from $129.16 to $156.28. The latest EQ also features special guest commentary from Books Bell CMO Gregory Ng, as well as co-founder and CEO of Curalate Apu Gupta.
The EQ analyzes a random sample of over 7 billion online shopping experiences using "same store" data across each calendar quarter. Averages throughout the EQ are calculated across the entire sample. Key performance indicators, such as average order value and conversion rate, will vary by industry/market type. These averages are published only to support the analysis in each release of the EQ, and are not intended to be benchmarks for any ecommerce business.
Monetate is the global leader in cloud-based testing, email optimization and in-the-moment personalization software that empowers marketers to create, deliver and measure personalized marketing campaigns across all touchpoints-at scale.
Customers use Monetate's solutions to identify important customer segments, target them with dynamic digital marketing campaigns, and measure the results of those campaigns-in real time within a single easy-to-use interface.
Monetate is used by the world's leading brands to grow revenue faster by delivering better digital experiences for their customers around the globe. Founded in 2008, Monetate influences billions of dollars in revenue every year for world-class companies like Patagonia, Best Buy, National Geographic, QVC, Celebrity Cruises and hundreds of other market leaders.
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