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2022 Ecommerce Stats & Changes In Consumer Behaviour – Webinar

2022 Ecommerce Stats & Changes In Consumer Behaviour – Webinar


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Welcome to this SaleCycle Webinar, where we take an in-depth look into how the pandemic and other modern factors have impacted the most recent 2022 Ecommerce Stats and Trends Report. 

If you missed the webinar, you can still listen to Ben Lax and Brad Ward here as they discuss the data they have harnessed from over 160 million user journeys.

Discover where this leads us today so that you can utilise key information and improve your conversion rates across the board – from cart abandonment to finding out when people are most likely to buy online.

Table of Contents

About This Report
Key Stats
Total Sales By Day Of The Week
Total Sales By Device
Total Emails Sent
Cart Abandonment Statistics
Online Traffic By Month
Online Traffic By Device
Online Traffic Timeline
Total Online Sales By Device

Introduction

Ben: Hello and welcome to this SaleCycle webinar. Today we’re going to be looking at the 2022 ecommerce stats and trends report. In this webinar, we’re going to be giving you an overview of some of the key statistics and data that we’ve seen over the last two or three years, especially during the Covid pandemic. We’re going to be looking at the impact on buyer behaviour and seeing the changes that have happened. 

Today it’s going to be presented by Brad Ward who is the Search and Content Manager at SaleCycle, and by myself, who is the Global Head of Marketing – and my name is Ben Lax.

About This Report

Brad: Hi everyone. So today we’re going to be talking about how online shopping behaviour has evolved and how brands are adapting to meet new online expectations. We’ll also touch on how brands can take advantage of these new opportunities.

So, with this report we tracked over 8 million online buyer journeys, last year with over 500 of the world’s biggest brands. We looked at retail, fashion and travel as our main sectors.

The image below shows you the average order value throughout the year. So, our annual report is created so that readers can benchmark around KPIs, get access to our data-driven insights and we hope that this can really help with digital strategy – most importantly, to help discover market trends that lead to new business opportunities as well.

Key Stats

Ben: So before we kick-in with the key stats, this is just a reminder to go onto SaleCycle.com and get the Ecommerce Stats and Trends Report downloaded. We’re going to be looking at a few of the slides today and going into a bit of a narrative – however the stats and trends report itself has a whole host of different information, in-depth analysis and some really useful graphs and data points that you can use throughout the year as a benchmark.

Some of the key stats from this year that are interesting is we look at abandonment rate – as we see, mobile is slightly higher than desktop at 83% over 76% for desktop. The reason for this is, we believe in, what we see is that, the buyer behaviour with mobile is a little bit more dynamic. People have a lot more browsers open, people can go in a lot more windows, whereas on desktop – it’s pretty much a clear route through to the purchase. 

Both of them are high, and again at SaleCycle, what we do is ensure that we can lower that abandonment rate.

Something else to note was Black Friday and Cyber Monday. Although they were impressive days for conversion, impressive days for retail and etail – they were slightly behind 2020’s results. We’re going to go into more detail on that later, but I’ll pass back over to Brad.

Total Sales By Day Of The Week

Brad: Yeah, so, what we can see here is that buying habits of online consumers have changed since the last time we did our annual report. Thursday was the most popular day for online sales for a long time. As we can see here, now Monday has actually taken over that mantle.

Total Sales By Device

Ben: We can also see that mobile sales are increasing and desktop sales are slightly decreasing. Again, what this comes down to is – people have more access to their phones, people have more access to tablets, people are using more and more mobile technology all of the time.

That being said, it’s important to recognise that quite a lot of the more major sales, the higher value purchases, are still taking place on desktop than they are on mobile. So, a larger item such as a laptop is likely to be purchased via computer or laptop itself whereas on mobile, clothing and different areas in that kind of price bracket are definitely higher.

Brad: So as Ben said, mobile devices have enjoyed more online sales than desktop. We do see this trend growing over time. Brands and technology will only continue to evolve and mobile ecommerce will only continue to grow.

What we would suggest is optimise your mobile buying funnel with abandon cart emails and SMS remarketing as this could be an effective strategy especially to meet the demand of online traffic, online sales on mobile.

But in general, make sure your mobile user journey meets the high expectations of online shoppers today.

Total Emails Sent

Ben: At SaleCycle we work with a lot of different verticales but three of our main verticals are retail, fashion and travel. What we’ve done is broken down the different metrics via each of these channels.

 So how you can see this is retail emails – the average open rate is 39%, with travel emails it’s slightly higher with 42%. However in fashion, it’s lower at 31%.

So we believe what this can come from is the fact that some of these items, travel and retail, are a little bit less often purchased whereas fashion is something that gets pushed quite often.

Brad: SaleCycle email marketing and cart abandonment emails are optimised with dynamic and personalised content. We do time emails and test emails using different cycles so we use a multi-cycle strategy to make sure that we can get the most effective emails as possible, which is why you might see some really nice open rates here.

Cart Abandonment Statistics

Ben: But there’s been a slight change in cart abandonment rates with 2021, slightly lower than 2020. 

SaleCycle tracks millions of customers daily so we know how important it is to bring customers back to their baskets and recover online sales.

At SaleCycle, when we’re looking at this data, we think it’s a huge opportunity for online versus brick and water shopping so your brand can stay connected with customers and remind them of the products they’ve left behind, and what they’ve been browsing. 

This didn’t used to be the case with brick and water stores so this is a great opportunity for brands to increase their digital strategies, increase the amount of sales that they can get from abandoned customers and obviously, having a lower count of abandonment rate has a direct impact on your revenue.

Brad: Yeah. As you can see from 2020 to 2021 in this graph, utilities is the only area where 2020 had a higher abandonment rate and it’s interesting because utilities is the one area where we’ve essentially been told to stick with our provider. So therefore, it’s expected. 

However travel, fashion, retail and on average, you can see that 2021 is slightly above 2020 and what this could come down to is the fact that during certain lockdown times, we knew what we would go online to purchase and it was made and we would follow through. Whereas now we’re not window slightly more. Especially in the retail space.

Online Traffic By Month

Brad: And this is quite an interesting slide. So historically, November would lead the rates for the highest online sessions in a single month. But once again, we’ve got a first in many years with January that saw the highest amount of traffic. Could it be down to Black Friday starting to have a lesser impact on consumers? Or is it that brands are becoming more savvy? What’s your take? Let us know in the comments about what you think.

Ben: In terms of January – it’s quite impressive to see this change. We saw and tracked quite a lot of people’s comments online when Black Friday was happening and it did have a lesser impact, more than the normal Black Friday impact would have had.

 January was interesting and it’s been interesting to also see the February dip. So as we track through the year, we’ll continue to update and feedback on this because it is quite an interesting change and like Brad said – one that hasn’t happened for quite a long time. 

Online Traffic By Device

Brad: Although mobile is leading desktop in online traffic and sales, the amount of traffic compared to sales – there is actually still quite a bit of a gap and for that gap to be closed, perhaps there’s still more to do from a sales point of view. There’s still more to do, brands still need to do a little bit more to close that gap so perhaps optimising the purchase funnel a bit more. Mobile could really do that to improve trust that customers have.

It could be down to many things but the real question is – what’s the realistic peak for online sales on mobile? Is it ever going to be 100%? Or will it peak out at 80%? Will desktop always have a place in online shopping in the future? 

Some really interesting questions to track over the coming years.

Online Traffic Timeline

Ben: My favourite slide… so, Online Traffic Timeline. It’s interesting that we see certain days, months and parts of the year as key. It differs geographically as well. We often forget that Singles Day is a massive day for traffic in Asia, whereas Black Friday we see as the pinnacle of the shopping events – it’s actually completely dwarfed by the Singles Day conversions and by the Singles Day value. But again, because they happen in the same month, when we track this data you see November as being very very big.

However, into this year you can see that January was quite impressively high and again it comes to those Christmas sales, Boxing Day sales, getting ready for building into that new year and then the dip into February as it builds back up into March.

It was quite static between Mothers Day and the international Mothers Day, so the 27th of March all the way through to the 8th of May. Fathers Day saw that dip and again, Halloween marked the start of the season where you’re expecting to see bigger conversions and bigger sales.

Total Online Sales By Device

Brad: It’s interesting, fashion is the only sector where mobile sales out-performs desktop. Perhaps the fashion industry is a little further ahead when it comes to mobile-commerce, or perhaps it’s a different type of shopper compared to the retail which we will delve into in a later webinar.

Next time we’ll be taking a deep dive into retail fashion and travel sectors individually.

Ben: So for this slide, we talked at the very start of the webinar about how mobile is out-performing desktop. But when you look into it, it is clear that the retail desktop is still king, as is travel. But in fashion, mobile is leading the way. And again, it comes back to that point we made where it’s a quicker purchase, it’s a smaller purchase, it’s very very versatile and it’s always in front of you, especially with emails. 

So there’s still a lot to come from mobile, especially retail and travel sectors, but in fashion it is leading the way. So there’s potentially quite a lot of learnings to be taken from retail and travel from that fashion sector.

Outro 

Brad: Thank you for listening to the SaleCycle 2022 Ecommerce Stats and Trends Report Webinar! We do have some useful resources on the website. We’ve got a lot of blog content and a lot of different calculators that you could use as well that could improve the way that you view your stats.

Ben: Yeah, we work with some of the world’s biggest brands to help improve their conversions. Our data is taken and then made so we can recommend the changes that should happen into the next year.

If you do want a demo, please again visit SaleCycle.com and just request a demo. Our experts will analyse your site and give you the feedback on what we can do to help you improve your conversions.

Again, if you want the full version of the Ecommerce Stats and Trends Report, go to SaleCycle.com – there’ll be a number of areas where you can see it advertised. Just download it, it’s completely free, and the statistics in there will really help you bench-mark your performance for the year.

I’d like to thank Brad again, and I’d like to thank you for the time. And we will speak to you soon!

Reviewed by Brad Ward
Written by Casey Turnbull
— Updated on 10/03/2022

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