(Source: MARKETWIRE)
MarketLive, Inc. (www.marketlive.com), the leading eCommerce
platform and services provider for mid-market specialty retailers,
today released the MarketLive Performance Index(TM) Volume 9, "Key
Holiday Success Factors." The report is the company's quarterly
analysis of aggregate performance data from more than 100 online
retailers using the MarketLive(R) Intelligent Commerce Platform(TM)
during Q3 2009. In addition to reporting on Key Performance
Indicators, the report offers strategies for profitable
implementation of free-shipping promotions and customer service
insights that can help merchants drive sales this holiday season.
The MarketLive Performance Index Volume 9 reveals a mixed picture. On
the positive side, year-over-year visits were up 1.16%, overall sales
grew 1.95%, the one-and-out rate decreased 19.39%, and the
add-to-cart, or engagement rate, increased 18.97%. Mirroring the
tentative economic recovery, the report also showed that conversion
rates dropped 8.6% while cart abandonment rose 4.36% during the same
period.
In a survey of over 1000 consumers completed in early October,
MarketLive and e-tailing group uncovered several factors that will
help retailers be successful this holiday season. "While there are
still challenges for retailers, the picture is getting brighter,"
said Ken Burke, Founder and Chairman for MarketLive. "When we look at
both Performance Index data and findings from our recent
consumer-focused holiday shopping survey, we see improvement as
customers are becoming more bullish about online shopping. In fact,
55% of consumers say they plan to shop online during the 2009 holiday
season -- up from 49% last year. And they are not solely looking for
bargains. Fully 88% of survey participants reported they are willing
to pay full price for unique products, excellent service, and
convenience."
Strategies to Maximize Sales
The 2009 holiday season has the potential to reap significant rewards
for merchants, despite the challenging economic environment. Research
indicates Shoppers may not be looking for rock-bottom prices, but it's
still essential to deliver value in the form of judicious promotions
and stepped-up service. With the holidays fast approaching,
fine-tuning sites with the following strategies will be crucial to
maximize sales.
Strategy 1 -- Targeted Free Shipping that Won't Break the Bank:
Consumer research showed that free shipping offers are crucial to
holiday success.
