Mid-market retailers using 4-Tell are tracking like larger retailers.
Portland, OR (PRWEB) December 10, 2013
4-Tell, Inc., provider of personalized product recommendations for all retailers, announced today they studied over 100 midsized online retailers, and found their sales for the recent Cyber Weekend (Thanksgiving Thursday through Cyber Monday) nearly matched the increase larger retailers experienced (see Cyber Monday Sales from Bloomberg). Midsized online retailers have below $50M in online revenue annually.
The mid-market had an increase in sales of 19% compared to the same period last year, while larger retailers had a 21% increase. 79% of the mid-market’s Cyber Weekend revenue came from shoppers purchasing from a desktop computer, and 7% revenue from mobile phones, although 22% of their traffic used mobile phones. In addition, mid-market retailers using personalized product recommendations (e.g. ‘People also bought…’) increased their sales by 18.2%.
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- The 2013 online shopper is more sophisticated than last year’s Cyber Weekend shopper since they have a higher conversion while viewing slightly fewer products.
- Shopper habits are very different than only 4 weeks earlier. Before Cyber Weekend, shoppers were doing more browsing (i.e. lower conversion rate) and less buying (i.e. lower revenue).
- Although shoppers browse on their mobile phones, they continue to buy on their desktop or tablet. As expected, they view fewer products on their mobile phone during their visit.
- Personalized product recommendations had better Cyber Weekend results than earlier in 2013, and increased sales by 18.2%.
The mid-market online retailer is tracking the larger retailers, and one key feature helping them attain similar uplift is product recommendations. In addition, mobile sites continue to be very important to the mid-market for driving sales to their desktop and tablet sites, and recommendations are critical on mobile to help shoppers find the correct product due to the small screen size.
4-Tell increases sales for retailers by 17% with personalized product recommendations. We’re the industry’s first solution with instant integration, retailer control, and guaranteed results. We are unified across all channels – web, email, mobile, ads and in-store. Our Boost® Engine engages shoppers by analyzing shopper behavior dynamically, so recommendations change with every click a shopper makes. Set it and forget it, or further optimize with your business rules through our Boost® Dashboard. 4-Tell is driving over $100M additional sales per year with over 1B recommendations per month for its more than 200 merchants. http://www.4-tell.com.