Q3 Stats for Retail Marketers
The importance of cross-channel consistency is at an all-time high.
According to Monetate’s latest global E-Commerce Quarterly report (EQ3 2015), it plays an instrumental role in helping retailers drive online sales. In fact, the report states, “Creating continuous experiences that start with a channel – a paid search ad, a transactional email, a social media placement – and extending that theme or offer through the website experience has been proven time and time again to deliver better performance: lower bounce rates, higher add-to-cart rates and greater conversion.”
Since bounce rates continue to rise (31 percent in EQ3), it’s the role of a marketer to counteract this trend by catering to all users across all devices across all channels. This is because that increasing bounce rate is attributable to the growth in mobile traffic, which according to Monetate, now accounts for 25 percent of all e-commerce traffic.
Despite high bounce rates across the board (courtesy of slow loading times, non-mobile friendly sites, etc.), those who aren’t leaving are getting more comfortable shopping from their smartphones. The mobile bounce rate has seen year-over-year improvements (from 41 percent to 39 percent), but is still significantly higher than desktop (28 percent) and tablets (29 percent).
Those retail outfits that provide a responsive, consistent and personalized experience (complemented with easy mobile checkout) are those that will have the most success this holiday season and next. This is because despite all the coverage of mobile’s role in today’s buying experience, many retailers have yet to cater the channel the way they should.
If there is one takeaway from 2015 it's: While today’s shopping path is fragmented, a brand’s messaging shouldn’t be. For example, Monetate customer Bonobos, an online men’s retailer, recently promoted its New York City guideshop with a consistent retargeting campaign to visitors, resulting in conversion rates 146 percent above the industy average. When a user views a product on a website, leaves without purchasing it and visits another channel (whether it be email, social or various websites), the ad they are presented with should mimic what they were viewing on the website – anything short of that won’t win the conversion.
Other stats retail marketers will want to know include:
*Global website visits by traditional devices (e.g. desktop) has steadily declined in the last year (see image) with mobile's share on an upward trajectory.
*Desktop users still make the most purchases (3.59 percent conversion rate globally), but tablets get their fair share (3.3 percent conversion rate globally) and are followed by smartphones (1.31 percent globally).