An Online Consumer Report recently published by RichRelevance revealed facts that could definitely assist online US retailers for the 2011 holiday season. These insights also offer our Indian online retailers a chance to mull over their strategies and gain perspective from the Global trends.
The facts revealed trends in browsing and consumer online shopping behaviour and what probes them to make purchasing decisions.
Consumers were seen to reach retail portals through search engines, bookmarks and social network sites. In August 2011, orders more than 4 million resulting to $500 million were a part of the research.
How Search Engine Traffic Shops Online
Search engines provided 18%, i.e. highest traffic source for online retailers. Google being the highest with 81% and AOL the lowest with 1.7%; Bing and Yahoo levelled at 7.5 and 9.7 percent respectively.
Though, AOL traffic converts highest and places the highest orders, at $105.27 on average per order.
Twitter and Facebook trends
· Facebook traffic to retail sites increased an astonishing 92 percent year-over-year for August yet it accounts for less than 1 percent of traffic. The conversion rate of the online shoppers is a mere 1.2%
· Even though the conversion rate of Twitter traffic is a mere 0.5% but the Twitter shoppers led the list of large spenders across all traffic groups with an average order of $121.33.
Few US Retail Facts
· Q2 2011 U.S. retail e-commerce spending grew 14 percent to $37.5 billion, according to comScore.
· It was the seventh consecutive quarter of year-over-year growth.
· eMarketer credits social commerce, mobile commerce, and daily deals sites with the continued growth of the online retail space.
· They predict over $100 billion in annual online retail sales by 2015.
With trends showing constant gain for retailers through social media portals like Facebook and Twitter, many Indian brands have already adopted social media marketing strategies, yet there is a lot that the market has to offer.
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