This is a monthly report by Fresh Relevance, to provide statistics on the effectiveness of real-time email marketing. This report covers cart and browse recovery for April 2014. (Previous report for March 2014; next report for May 2014).
- Sales uplift from real-time email marketing is 12.20% (8.22% from cart recovery plus 3.98% if browse recovery is done too).
- The Identification and Real-Time Cart Abandonment chart is based on clients who are only doing cart abandonment alone. The raw data is quite widely scattered and for commercial reasons we're only showing the trend line, but I think it's the first time that any company has published reliable data on this issue, instead of just subjective opinions. Firstly, more identification is good. Second, the trend line is definitely not straight but climbs fastest near the origin - I think this is because your best customers are easiest to identify as they are highly engaged and visit often, so even companies with a 10% identification rate capture them and achieve an average 5% uplift from cart abandonment. Then there's another 5% sales uplift to be made, on average, by improving identification.
- Competing solutions that don't notice visitors until they login, such as Magento plug-ins, are likely to have far worse results than this chart suggests. These don't work for people who haven't logged in. Therefore, they will only give an estimated average sales uplift around 2% based on our research, because they see a much smaller proportion of shoppers.
- The usual warnings apply. There is a lot of variation in sales uplift across our clients - 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. NB: as with all these reports, I exclude outliers who get more than 20% sales uplift from real-time marketing (we occasionally see over 100% for clients who sell small numbers of high-priced products!), so the results reflect typical companies.
|Sales uplift||12.20% (8.22% from cart recovery plus 3.98% if browse recovery is done too.||Extra sales attributed to Fresh Relevance, compared to normal sales.|
|Sample Size for Cart Recovery data||about 1 billion page views (less for the browse data)||From a representative sample of Fresh Relevance clients worldwide.|
|Proportion of Carts Abandoned||65.25% by number
73.29% by value
|Number of abandoned carts/total number of carts.
Value of abandoned carts/total value of carts.
|Average Order Value of recovered purchase as opposed to regular purchases||38% Higher for a recovered purchase||Cart recovery emails.|
|Proportion of revenue from browse recovery||32.64%||Browse recovery revenue / cart+browse recovery revenue (for clients doing both)|
|Average return from a single cart recovery email||£12.72||Cart recovery emails.|
|Average return from a single browse recovery email||£4.40||Browse recovery emails (more of these are sent than cart recovery emails).|
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