HONG KONG, 16 DECEMBER 2008 Results of a study of global online buying habits were released today, indicating the averaged order value at US$78.69, and 29.6 orders are secured per 1,000 sessions.
Coremetrics, a digital marketing optimisation solutions provider, studied 72 million e-commerce retail Web sessions over six months from March to August 2008, focusing on visits primarily concerned with business-to-consumer (B2C) e-commerce, with dominant product categories that include clothing, sporting goods, books and calendars, and electronic goods.
Coremetrics Benchmark leverages aggregate performance data across more than 300 participating brands to deliver over 35 benchmark metrics addressing performance indicators such as campaign and channel effectiveness, site stickiness and conversion rates.
The study outlined some strong global trends in e-Commerce, which is said to be applicable on local Web marketers as well. The global average metrics are:
• Average session length: 7mins 34secs
• Page views per session: 9.3
• Average order value: US$78.69
• Orders per session: 29.6 orders per 1000 sessions
The average session length at 7 minutes shows that Web shoppers are happy to search around and make a considered decision. Websites that engage their customers with interesting and relevant content, especially now adding third party references and recommendations are reporting the best results in this area.
Sticky Chinese buyers
Hong Kong visitors were spending less than the global average visiting time per session, while China statistics were inline with the global average figure, yet their average transaction values per order were among the highest, indicating that Hong Kong and China visitors are rather focused buyers.
The average number of page views per session is a measure of the stickiness' of a site. Combined with the average session length, it shows that the e-commerce sites in the study attracted around 48 seconds of viewing time per page. This value is increasing with the advent of smarter and more engaging Web 2.0 technologies including video product outlines and high quality custom graphics.
Orders per session describe the conversion rate of orders from the general number of visitors to the web sites studied. A global conversion rate of 30 orders per 1000 sessions is lower than those figures, which have been seen in other studies and may be related to the level of competition encountered by the web sites in the study. The weighting of clothing and sporting goods products and services in the sample could be attributed for some of this variance with these items being more widely and cost effectively available in their local markets.
Varying average order value
Hong Kong visitors were consistent with the global average number of page views per session at 9.2, yet Chinese visitors were much under the average at 6.7. However, it does not mean that they are less likely to shop online, quite the contrary, the research found that although Hong Kong visitors placed 12.9 orders per 1000 sessions, and their China counterparts placed only 5.9 orders per 1000 sessions, both lower than the global average 29.6 orders per 1000 sessions, their average order value amounted to US$191.76 and US$219.75 respectively, against the global average of US$78.69.
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