E-Commerce Conversion Rate At Seasonal High, While Traffic Remains Strong
Shoppers appear to be in serious buying mode, having done most of their gift-buying research for the season, according to the Marketing Land Online Retail Shopping Report.
Online shoppers stopped doing quite as much research and started seriously buying last week, as conversion rates rose to the highest rate seen yet this season — up 1 percentage point from the previous week, and up 76 percentage points (1.8 times) as compared to the baseline week of September 29.
This conversion rate occurred on lower online commerce site page views, as compared to the previous two weeks, perhaps indicating that shoppers have done their research and are in serious buying mode. Still, traffic was up 2.4x over the pre-holiday baseline, though it was down 40 percentage points from the week prior.
These stats come from Marketing Land’s Online Retail Shopping Report, which is based on data from HookLogic, a company which gathers data on online retail transactions through the advertising network it runs, allowing brands to run ads on major retailer websites.
We’ll be featuring data like this weekly on Marketing Land as a part of our Retail Column coverage through the holiday shopping season. Some additional context can be found here.