Everybody’s working for the weekend, except e-commerce retailers.
According to a new study of e-commerce trends from website analytics solution Oribi, Tuesday holds the highest online sales conversion rate (2.5%), followed by Monday (2.25%). The overall average conversion rate of 2.2% drops as the week progresses, falling to 2.1% on the weekends.
While 11% of all visitors add items to their carts, of these, only 39% proceed to checkout, with 48% of that group completing a purchase. In looking at which channels generate the highest amount of traffic, Oribi found that almost half (48.9%) of all traffic is driven directly to stores via sources such as email marketing and mobile apps. Google is the main second-party traffic driver, powering 35% of traffic through organic search (20.6%) and paid search ads (14.1%), followed by Facebook organic/paid (9.6%) and Instagram organic/paid (1.5%).
Looking at overall conversion rates for each channel, Google (paid) takes the lead with 2.7% followed by direct traffic (2.5%), Google (organic) (2.1%), Facebook paid/organic (1.5%), and Instagram paid/organic (0.8%).
Oribi’s analysis also revealed a gap in the conversion rate of visitors coming from social media platforms based on product price. For products costing less than $100, the conversion rate is above average at 2.6%. For products costing more than $100, the conversion rate drops to 0.4%.
Additional findings include:
• The average conversion rate for visitors on desktop is 2.7% but only 1.9% on mobile, making desktop visitors 50% more valuable than mobile shoppers.
• The conversion rate for low-priced products was around 2.3%, whereas medium-priced products had a conversion rate of 1.3% and high-end products were 1.5%.
• 51% of visitors buy on their first session, 19% purchase on the second session, 10% purchase on the third session, 14% for sessions four through nine and 6% for any session past the 10th.