May 29, 2015 (Philadelphia, Pa.) — RJMetrics 2015 Ecommerce Buyer Behavior Benchmark shows lack of customer attachment; 68% of customers never purchase a second time.
New data released today by RJMetrics, a complete analytics platform for ecommerce, SaaS, and mobile businesses, digs into the behavior of the ecommerce customer. The biggest finding: while many retailers tout the benefits of customer retention, most customers never purchase a second time. Only 32% of customers purchase again within a year of their first purchase.
These results paint a picture of a very cutthroat industry, where retailers are constantly in the process of getting in front of new customers, and then dealing with them on a very transactional basis. This is contrary to the prevailing narrative within the industry, which tends to emphasize customer relationships and building strong brand advocates. In reality, most ecommerce companies struggle to get their customers back in the door.
But the report surfaced another finding: in spite of these challenges, the most successful ecommerce companies are building longer-term customer relationships. Top quartile companies (ranked by growth rate) have customer lifetime values that are 79% higher than their less successful peers.The report offers two suggestions on how companies can replicate the success of top performers:
"While retailers love talking about building brands that customers love, there are very few companies doing that successfully," said RJMetrics CEO, Robert J. Moore. "If you're one of the few retailers who has figured out how to keep your customers coming back you're on the path to something very big."
All this data, and more, can be found in the 2015 Ecommerce Buyer Behavior Benchmark.
RJMetrics is the analytics platform of choice for many of the fastest-growing online businesses in the world, including NoMoreRack, Hootsuite, Walker & Company Brands, and more. It provides business users with an easy-to-use, cloud-based solution to drive growth through smarter decision-making. For more information on RJMetrics, visit their website.