Digital Commerce Growth in Jeopardy?
Surely, for some time now online shoppers have reasons for counting every cent before clicking on the ‘order’ button. With their belts tightened up a bit more than before, according to Salesforce, e-customers spent 4% less in the second quarter of 2022, digital traffic noticed a 2% decrease, and the global digital commerce growth has dropped as much as 6%. The latter has been continuously decreasing from Q3 2021 starting at 12%, losing almost a half in 2021 Q4 (7%), suffering -2% in Q1 2022, reaching now the mentioned -6%. [caption id="attachment_56517" align="aligncenter" width="1288"]
Digital Commerce Growth year to year. Source: salesforce.com[/caption]
Order & Traffic by Device
Traffic doesn’t change much when it comes to the device it’s generated on. Over 70% of shoppers use their cell phones to look for things they want to buy online. 26% of them find it easy to shop for items on their computers, leaving a small percentage of 4% for tablet users. When it comes to the orders made online, the ones finalized on computers come up to 36%, leaving 61% and 3% for mobile and tablet purchases respectively.
This indicates that a big part of internet users look for information about a particular product on their cell phones, to later switch the device, making the final purchase on a computer.
It’s also worth noting that this trend has been continuing for a few quarters now.
Conversion Rate
It appears that European online shoppers are the keenest on taking up action: signing up, filling in forms, and clicking on CTA buttons. The Netherlands, the UK, and Germany are the countries generating the highest conversion rate in Q2 2022: 3.3%, 2.7%, and 2.5% respectively. The USA conversion rate reaches 2.5%. On the opposite side, there are Latin America and Italy generating no more than a 1% conversion rate.Shopper Spend & AOV
A big shocker comes now: the average amount of money online visitors spend by a visit in an e-store has dropped drastically from $3.05 in the fourth quarter of 2021 to $2.50 in the first quarter of 2022. Now, the trend is visibly changing. It’s slowly getting higher, reaching $2.61 in Q2 2022. [caption id="attachment_56519" align="aligncenter" width="1292"]
Shoppers spend year to year. Source: salesforce.com[/caption]
The average discount rate offered by e-stores has dropped from 17% in 2021 Q4 to 15% in the two subsequent quarters. The average amount left in an e-store reaches $100.31 per order.
