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MarketLive: Merchants continue to see revenue growth
For the sixth consecutive quarter merchants with MarketLive have seen double-digit revenue growth. On average revenue increased nearly 19% between Q1 2013 and Q1 2014 while traffic increased about 14% during the same time period.
Overall mobile revenue was also up - nearly 50% during the period. All was not perfect, however. Brick-and-mortar stores also saw revenue increases, more than 28% on average. According to the data bounce rates - those of shoppers who come to a store but do not make a purchase - and shopping cart abandonment rates also pushed up. The bounce rate increased about 7%.
"Cart abandonment continues to challenge ecommerce merchants across sectors and sites. For the most part, abandoned cart rates are flat or rising. Growing mobile usage and cross-device shopping are just two of the more significant factors behind this frustrating metric. As merchants catch up with changing consumer behaviors, expect to see better mobile experiences and stronger omni-channel relationship management," writes the company.
Extrapolations can be made between MarketLive's data and across the online space as more consumers log on to buy everything from high-fashion to groceries.
Other interesting findings from the MarketLive data include:
• Add to Cart rates increased 8%
• Average order size increased 4% to $114.55
• Conversion rates decreased 2%
• Cart abandon rates increased 3% to land at 72.5%
• 43% of check-outs were abandoned
As for how shoppers are converting the data shows Sunday is the best day for tablet traffic and conversion (1.94%) while traffic and conversions from smartphones were relatively steady throughout the week, peaking in the afternoons on most days.
Image via Shutterstock
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