Successful ecommerce is defined by the “critical first hour”by
Ecommerce providers looking to convert customers into buyers have a maximum of 60 minutes in which to do so, according to analysis of online shopping sessions by Monetate.
The research, conducting by tracking over 7 billion consumer journeys online, also found that sites lose 30% of all site traffic within the first 60 seconds of a session, highlighting the importance brands must place on delivering relevant content to users within the first few clicks of a website.
The Monetate Ecommerce Quarterly Report for Q3 of 2014 unearthed some interesting trends at various points within the “critical” first hour of online shopping journeys:
The research states that during this timeframe, 77% of consumers are in “product discovery mode”, with just 18.9% visiting product detail pages, 4% placing items in checkout carts and 0.01% actually making a purchase.
Zero to 15
Nearly 52% of all purchases are made within the first 15 minutes of a shopping session, the research states, with most occurring between the fifth and eighth minute. During these first 15 minutes, 65.5% of consumers are in product discovery mode and 26.5% visit a product detail page.
The middle 30
The middle 30 minutes of a website visit tends to be reserved for more committed shoppers, with Monetate’s research showing a gradual drop-off in site visits during this period. It states that, at this point in an average shopping session, a visitor has either “left the site, made a purchase or is a dedicated browser”.
Despite the decline in numbers, conversion rates are far higher during this timeframe, with 0.62% occurring during minutes 16-30 and 0.66% from minutes 31-45.
68% of all purchases have been made by the 45 minute mark, however the final 15 minutes also delivers 6% of converting shoppers, before the motivation to buy wanes. After the first hour, the research found that ecommerce sites earn just 14% of their customers.
Monetate’s data highlights the importance of ecommerce sites delivering relevant content and easy-to-use navigation, especially in light of recent research from IBM which found consumer attention spans online at an all-time low, with the average time spent on a website now hovering around the 6 minute 49 second mark.
A study from Rackspace also found that many consumers leaving ecommerce sites do so because of an overburden of choice. In fact, 34% of shoppers will give up browsing online altogether after just 10 minutes, if they can’t find what they’re looking for.
Chris is Editor of MyCustomer. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News. He joined MyCustomer in 2014.