Key Statistical Findings of E-commerce! Note this down please. (repost)
Greg: One word-Yahooooooooooooooo!!!<g>
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(Source:National Online Shopping Week)
The in-depth survey and analysis of 127 online retailers in seven categories resulted in a number of key statistical findings:
While still in an emerging state, the online retail market is experiencing exponential growth‹in excess of 200% per year.
The top-10 publicly traded online retailers have experienced year-over-year revenue growth in excess of 160%.
Growth in traffic has been rapid, and revenue-per-order is increasing.
Only 5% of unique visitors to sites become customers; only 1.6% of visits result in purchases. Small improvements in conversion result in dramatic increases in revenue. Online revenues generated by North American-based retailers for the first six months of 1998 were $4.4 billionless than 1% of overall retail revenue in North America.
However, full year 1998 online revenues for retailers will surpass $13 billion. Multichannel retailers migrating to the Internet account for the bulk of online revenues.
Multichannel retailers, like Dell, Schwab, Eddie Bauer and Lands End, account for 59% of revenues.
Generally, multichannel retailers experience better conversion and loyalty. Online retailers are investing heavily now to grow their customer bases.
65% of the revenues generated by the shop.org/BCG sample of online retailers are reinvested in marketing and advertising, compared with 4% for most traditional stores.
Online retailers' marketing and advertising spending per order generated is $26, compared with $2.50 for traditional stores.
Although there is a proliferation of retailers selling online, revenues are still concentrated in only a few mature sites.
The 10 largest sites account for 50% of revenues.
Computer goods, entertainment, travel and discount brokerage account for over 80% of the online retail market.
(Shop.org Report, Conducted by The Boston Consulting Group, Deepens Understanding of Forces Shaping Extraordinary Growth of E-commerce; Debunks Online Retailing Myths) |
