I wrote about ecommerce conversion ratio benchmarks before (check references at the end of this post if interested), but new researches are being published, so it doesn’t harm to explore this topic again. This time I came across a study from Wolfgang Digital that analyses 56 million visits for number of participating travel and retail websites resulting €214 million in revenue between 1 August 2013 and 30 July 2014.
Study results in brief
- Google accounts for almost 70% of total traffic that came to participating websites and generates almost the same share of revenue
- Average conversion rate was 1.4% with 1.56% for travel and 1.35% for retail
- Average transaction value was €274 (€148 for retail and €689 for travel)
- As I recently wrote in my e-commerce consultancy blog “Consumers browse from mobile, but purchase from desktop”. This study numbers – mobile (excluding tablets) generates 26% of traffic but only 10% of revenue
- But(!) research from Wolfgang Digital shows strong correlation between mobile traffic and mobile revenue and conversion rate in general
- Two other KPIs that positively correlate with conversion are the time users spend on the site and number of pages viewed. I am not sure however do marketers need to fight too hard for these KPIs because probably correlation isn’t equal causation here – people who want to make purchase naturally have to spend more time on the website and visit more pages. Maybe underlying reason here is relevant products offered for attractive price.
- Surprisingly bounce rate and transaction volume didn’t show correlation with conversion
- Full study link (Wolfgang Digital website)
- My previous posts about the topic – one, and another and one more