This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Average order value—or AOV—is a critically important performance metric when it comes to eCommerce stores. The AOV meaning is simple: It measures the average amount of money that your customers spend in a single transaction with your eCommerce business. Why Is AOV Important in eCommerce? What Is AOV?
For e-commerce businesses, this means it’s time to prepare for the busiest time of the year. So, in this blog, we’ve covered a comprehensive holiday schedule in the form of information on shipping deadlines and peak season surcharges for the 2024 season. You can register for the session here.
It’s meant to be quite simple for a shopper, but as an ecommerce retailer, you know it’s not that easy — especially if the customer changes their mind and wants to return said magical shipment back to your shop. Oh, ship… Inflation has been increasing, which likely means you’re being mindful of the economy.
In todays e-commerce-driven world, the journey from I need this to Finally, its mine! In this article, we break down what makes the elusive online shopping journey, why it’s important, and the challenges e-commerce businesses need to guard against. What is the Shipping Journey? is anything but simple.
That’s the crux of an omnichannel e-commerce marketing campaign. This article walks you through precisely what omnichannel e-commerce looks like, why it is crucial for e-commerce brands, and how you can create your own killer omnichannel e-commerce marketing campaign. Why does that matter?
In fact, the return rate for ecommerce shopping is estimated around 20-30%. The reasons can range from fit or quality issues to customers simply changing their minds. Store credit offers you the perfect escape from this common e-commerce business predicament. Close to 3 billion people shop online across the world.
Shipping delays are inevitable even with the most efficient carriers. And when they happen, they tend to drive your customers away. Dealing with shipping delays is no rocket science but first, we’ll bust a few delay-related myths along the way to make it easier for you. Shipping Delays are More Common Than You Think.
While acquiring a new customer is awesome, it can take quite a few resources to make that happen. To start the new year off, work with what you currently have and look to drive sales from current customers. In fact, 41% of an ecommerce store’s revenue comes from only 8% of the visitors. Mirror Email Messaging on Your Site.
As an industry, ecommerce is expected to grow at a minimum of 6.3 The retail apocalypse and a worldwide pandemic have boosted ecommerce growth. This is good news for ecommerce companies; it’s great news for ecommerce companies with an agency that’s ready to take advantage of this growth. percent per year.
When it comes to e-commerce marketplace dominance, Amazon is at the top of the food chain. Some may tell you that even if you can’t compete with their scale, you can compete in other ways, like offering competitive discounts and free shipping for your own customers. And yes, free shipping is cool.
Considering a minimum of 30% of all products bought online get returned, and 92% of customers say they will return to a brand if they have an easy returns process, a seamless, optimized, and efficient returns management process is non-negotiable for e-commerce businesses today. All you need is the right recipe.
The importance of a quality shipping experience in e-commerce cannot be stressed enough. This is primarily due to the fact that the post-purchase (shipping + delivery) takes up 50% of the overall delivery experience. Thus, make sure you understand and follow these 10 best practices when it comes to e-commerceshipping.
Retailers need to readjust their strategies business-wide as they prepare to meet empowered customers who have more choices than ever in a tough economy that’s giving them more reasons than ever to seek out the best price — wherever it may be. The result? Marketplaces Forcing Retailers to Get Unique.
Logistics is the process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods, and related information from the point of origin to the point of consumption to conform to customer requirements. Think of it as the boomerang effect of e-commerce.
For instance, if you spent $5 to earn a customer and you know that over the course of that customer’s lifetime with your brand, they will likely spend about $100, that’s a great lifetime value to churn (or cost to acquire a customer) ratio ( LTV to CAC ). We’ll cover: What an ecommercecustomer loyalty program is.
Understanding the finances behind your business can help you increase your profits, cut back on expenses, and operate more smoothly. A contribution margin ratio is the difference between sales and variable costs within a company. The difference will then get used for fixed costs, like rent and insurance.
If you run or are starting an e-commerce business , you might have heard the term “minimum order quantity,” or MOQ, floating around. With an MOQ in place, it ensures you’re covering production costs and making a profit. You can apply MOQ strategies in direct to customer circumstances as well.
It costs 5X less to retain a customer than it does to acquire a new one. That’s why customerretention is crucial to growing your Ecommerce business. What is customerretention? Customerretention is the ability to encourage customers to keep coming back to make purchases.
In fact, 7% to 11% of customers’ online orders arrive broken or damaged and close to 50% of Americans had claimed that at least one of their packages was lost. Even the intensity of lost and damaged packages is high for e-commerce merchants such as yourself. Not just the scale.
For modern ecommerce sites, the ability to immediately and consistently bring in new customers is a HUGE deal. Even if you can’t achieve net positive revenue on the initial sale, referrals, email marketing and customerretention can payoff extensively with every marginal customer. Free shipping.
The most successful ecommerce and retail businesses are metrics obsessed. How to Measure Ecommerce Success. To properly measure ecommerce success, you need to have 3 main goals in mind: Selecting the right ecommerce key performance indicators (KPIs) and then tracking/measuring their corresponding metrics.
The above is a screenshot of BigCommerce’s out-of-the-box ecommerce analytics Customer report. You can clearly see the number of new vs. returning customers. And you can clearly see this particular brand is heavily focused on increasing returning customer spend. . This is because earn net new customers is expensive.
So far, it's a verifiable fact that drop shipping never comes along with newbies pretty easily. Yet at the same time, with existing e-commerce channels striving for a fairly good dominance in the market, it’s hard to find an all-in-one platform that's honed to perfection. Customer Support. Longer shipping times.
The e-commerce landscape today is more competitive than ever. Meaning, the customer experience (CX) has become a cornerstone of customers choosing brands to shop with and businesses need to go above and beyond to provide a positive delivery experience in order to keep customers coming back.
The Human Cost of Late Deliveries. You would most certainly not accept an excuse like “We outsource our shipping needs to FedEx, UPS, or DHL, so please check with the shipping carrier.” Now put your customer in the same situation. They lead to customer churn. They want it free. They want it NOW. How much, you ask?
In North America, it owns close to 30% of the e-commerce platform market. It’s trusted not just for building storefronts but for supporting everything that happens after a sale: shipping, fulfillment, and, yes, returns. It doesn’t matter where you sell or how you ship. Customers will send things back.
Now, consider your eCommerce website. eCommerce Homepage Best Practices. We're sharing these eCommerce homepage best practices to help decrease your bounce rate, improve engagement, and increase conversions. How much is it going to cost me? Think about yourself as a consumer. Display a unique value proposition.
The average conversion rate of eCommerce websites is 2.86%. It often has to do with the price: they simply want a sweeter deal. You can entice them back by sending them a coupon or discount via re-targeting – either through the email address they left, or via social media. How could they abandon their cart like that?
Commerce is expanding rapidly, especially within the retail sector. year-on-year, with ecommerce specifically up 8.4%. For example, purchase confusion can arise (and does) when a customer sees unfamiliar names or references on bank statements. Recent data shows that overall U.S. retail sales have increased 8.8% billion per year.
This is also the ideal time to review the online customer journey, because consumer expectations for ecommerce convenience and personalization are higher than ever, based on the findings of ClearSale’s 2021 State of Consumer Attitudes on Ecommerce, Fraud & CX survey. Personalize Your Back-to-School Marketing.
However, every ecommerce merchant reaches a tipping point where it makes more sense to focus on retention. Of course, creating a customerretention strategy is easier said than done—unless you have data to back it up. In this piece, we’ll cover what it means to create a data-driven customerretention strategy.
Post-purchase engagement is not simply customer service, although customer service interactions can be a component of it. It’s also not solely about transactional communications like order confirmations or shipping updates; purchase engagement is more proactive and focused on nurturing your relationships with customers.
ecommerce sales this holiday season are forecasted to reach $273 billion , a 1% year-over-year growth rate, according to the Salesforce Shopping Index , which tracks online data and preferences of 1.5 billion consumers worldwide. growth rate lags the projected global growth rate of 4% , which Salesforce forecasts will generate $1.19
Just like how the Super Bowl is a day for sports enthusiasts or the re-release of a famous franchise movie is a treat for the fans, Black Friday and Cyber Monday (BFCM) is a tailor-made event for e-commerce businesses to boost revenue, attract new customers, and build brand loyalty.
Just like how the Super Bowl is a day for sports enthusiasts or the re-release of a famous franchise movie is a treat for the fans, Black Friday and Cyber Monday (BFCM) is a tailor-made event for e-commerce businesses to boost revenue, attract new customers, and build brand loyalty.
While AI presents vast possibilities to enrich this journey, it also ushers in significant challenges that could negatively impact customerretention and a brand’s bottom line. Offer personalized post-purchase product suggestions that genuinely cater to each customer’s tastes.
61%: Extra costs (shipping, taxes, fees) were too high. 24%: Couldn’t see or calculate total order cost up-front. By and large however, the #1 reason for shopping cart abandonment beyond a customer just not being ready to buy is price. Outside of the 58.6% 35%: Didn’t want to create an account.
However, e-commerce post-purchase issues are nothing out of the ordinary, especially during times like the Holiday Season. The impact they bring is catastrophic — wrecking customer experience, straining customer support teams, and ultimately threatening profit margins.
So much that late deliveries tend to drive customers away. Read on further to know how much late deliveries can cost your business and how you can deal with them in order to spur customers to spend more on your brand! The Human Cost of Late Deliveries. You Bear the Cost of Late Deliveries. How much, you ask?
Tom Robertshaw ( @bobbyshaw ) is an Ecommerce Evangelist at Space 48, an award-winner ecommerce consultancy for forward-thinking retailers. It can be easy lose ourselves in the chronic battle of customer acquisition. This tells us there’s a huge opportunity to increase customerretention rates further to support revenue growth.
Loyalty has grown in importance alongside customerretention, with a strong loyalty program and company values both remaining important parts of building out a long-term relationship with customers. shoppers list shared values as the biggest factor behind brand loyalty. ”
Ecommerce business is booming. The stats analyzed by eMarketer predict that by 2021, the global ecommerce revenue is expected to reach $5 trillion. This is a by far, a descriptive indicator that suggests the existence of a steady momentum even for the looming ecommerce businesses. What is Ecommerce.
These first movers near universally are noting the gigantic opportunity to transform their business, from operations to customer relations and retention. Global ecommerce sales, representing 22% of all retail sales, could increase to $5.4 Automatic price optimization. And there’s plenty of money at stake.
As an ecommerce vendor, there’s nothing you can do to avoid shipping delays. We’ll also give you a basic shipping delay email template to help you communicate delays to customers. Managing customer expectations. An example of Amazon’s shipping delivery estimate. Reading Time: 9 minutes.
We organize all of the trending information in your field so you don't have to. Join 24,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content