If you have an E-Commerce company or know someone who does they’ll probably find the benchmarks in this blog post pretty valuable.
We live in a world now awash in data. So the biggest challenge is not taking measurements but MAKING SENSE of them, in a way that drives insightful action.
Numbers do not speak for themselves. Working with numbers is fundamentally an abstract interpretative endeavor at every step of the way:
1. In the design of the metic
2. In the method of capture
3. In the contextual interpretation of the output
4. In the corresponding consequential actions.
The ability to know how to make sense of data and metrics is important not just for E-Commerce companies but for so many parts of our life that are influenced by data: finance, health, technology etc.
And context is always an essential sense making ingredient. And benchmarks are one of our favorites.
Here is a preview of some of E-Commerce Benchmarks.
1. Google Adwords was the paid acquisition channel with highest conversion rate
2. The average conversion rate was 1.4%, top performers 3%
3. The average Bounce rate was 57%, top performers 35%
4. The average monthly repurchase rate was 9%, top performers 16%
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