It’s never to early to get ready ASAP for Q4 online sales.
MerchantTribe.com reports shoppers start early and are buying more items daily in the holiday shopping season.
Why? A study of e-commerce released in 2012 covering from November 24 to December 24, 2011, discloses some secrets you might need to know.
The study seems timeless.
The size of their shopping carts soon decrease significantly.
That’s the conclusion from studying data from merchants using MerchantTribe shopping cart software – for books, clothing, electronics, software, and sporting goods.
“We were surprised by the significant change in how much is spent per-order over the season,” said Marcus McConnell, founder of MerchantTribe.
“That seemed to defy the conventional wisdom that shoppers are as influenced by price at the beginning of the season than at the end,” explained Mr. McConnell.
“Perhaps shoppers purchase gifts for more important recipients first. Or maybe they wait for harder to shop for friends and family members and they’ve exhausted their budgets,” he added.
He provides another important conclusion: “Either way, they become more cost conscious the closer to Christmas they shop.”
More details from the study:
- Customers placed more online orders as the season progressed, peaking on December 20.
- Merchants made the highest amount of revenue per day shortly after Thanksgiving.
- Customers spent significantly more per online order at the beginning of the season than at the end.
- Conversion rates rose throughout the season, but dropped off around December 20.
To attract more cost-conscious buyers late in the selling season, Mr. McConnell’s suggests:
- Bundle your sale items.
- On minimum orders, offer discount shipping rates.
- Create late-breaking affordable groups.
- Because conversion rates increase when shoppers stop comparing prices, but conversions decrease about December 20, consider increasing shipping rates to offset the smaller orders.
From the Coach’s Corner, here are related resources:
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“E-commerce businesses, even e-commerce specialists, have yet to realize that the WWW is first and foremost an emotional experience. Few websites reflect this important priority.”