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Consumers spend less time but more money on ecommerce sites
Consumers are spending less time on a website but more money, according to new research from data visualization startup SumAll.
As consumers become more familiar and comfortable shopping online, and websites become easier to navigate, time spent on websites is decreasing. Between 2008 and 2012, the average amount of time spent per website online decreased by 27 seconds from 3 minutes and 16 seconds to 2 minutes and 49 seconds.
However, while consumers are spending less time on a website, they are spending more. Revenue per visit has increased 24% since last year, reports SumAll.
The research, which included more than 10,000 e-commerce stores and over $1 billion transactions, found that the average value of a minute spent browsing an online store is $0.43. A customer visit, on the other hand, has an average value of $1.30.
SumAll also unearthed a "sweet spot" of 3 minutes and 20 seconds - just the right amount of time, they say, to keep shoppers engaged but not overwhelmed.
The release of the data coincides with startup SumAll's launch of a new analytics tool - SumAll Traffic - which will enable SMBs to ascertain how much a website visitor is worth.
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