Real-Time Marketing Report for October 2014

This monthly report covers cart and browse recovery results for October 2014. (Previous report for September 2014, Next for November 2014).

In October 2014, our average client doing cart and browse abandonment made £109K extra sales for each £1M of turnover (34% more than cart abandonment emails alone).

This infographic shows cart abandonment levels and the results from sending cart and browse abandonment emails - both summary numbers and broken down by market sector.

Unbranded versions in different currencies: US Dollars, Euros, Pounds

 

Key observations:

  1. After rising in previous years, the cart abandonment rate is flat during 2014. My guess is this is because more ecommerce businesses are taking abandonment seriously.
  2. I predict that cart abandonment rates will *fall* by 1%-2% in 2015. That would still leave the rate over 60%, which is extremely high, of course.
  3. Sales uplift from real-time email marketing is slightly up at 10.86%.
  4. We have figures for an entire year and it's clear that cart and browse abandonment has held up well. Real-time recovery is with us to stay, so if you're not doing it yet - now's the time to start.
  5. The usual warnings apply. There is a lot of variation in sales uplift across our clients even in the same sector - everyone is making money, but not equally so. And, as with all such data, there is room for error in these figures. The recorded results could be too high, because some customers were going to buy anyway even if we didn't send recovery emails, or too low because some were reminded by the emails but bought in a way that we couldn't measure. We do our best, but nothing is 100% accurate.
     
Statistic This Month Figures Notes
Sales uplift 10.86% (7.49% from cart recovery plus 3.37% if browse recovery is done too. Extra sales attributed to Fresh Relevance, compared to normal sales.
Sample Size About 1 billion page views From a representative sample of Fresh Relevance clients worldwide.
Proportion of Carts Abandoned 62.54% by number Number of abandoned carts/total number of carts.
Average Order Value of recovered purchase as opposed to regular purchases 29% Higher for a recovered purchase Cart recovery emails.
Proportion of revenue from browse recovery 29.00% Browse recovery revenue / cart+browse recovery revenue (for clients doing both)
Average return from a single cart recovery email £13.53 ($21.63) Cart recovery emails.
Average return from a single browse recovery email £3.04 ($4.87) Browse recovery emails (more of these are sent than cart recovery emails).

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11/04/2014 Industry Report