In the second of our series, SaleCycle grabbed a cup of tea for 7 Questions in 7 Minutes with Camille Filiol at Paul Smith.
Let’s start with a bit about yourself Camille… What attracted you to Paul Smith?
The people who work here: approachable, dedicated, creative and hard-working. It’s so enriching to work for such a British institution where it’s about more than just fashion.
You can’t argue with that! Apart from Paul Smith, what other labels are we likely to find if we went routing through your wardrobe?
Hmm mostly high street but a bit of D&G, Sonia Rykiel, Maje, Sandro and Kooples – apologies, they’re almost all French!
D&G – Another of Camille’s favourites…
I thought it was about time we had a look some fashion numbers – admittedly not the most glamorous element of fashion, but I wanted to demonstrate what a fine job fashion brands do at recovering lost sales.
I decided to look at ten of my favourite fashion brands and how they performed in May to give us a good rounded view of how the fashion vertical adds up right now. Of course these numbers are changing all the time, but this gives us a good view on how the fashion sector works.
Basket Abandonment Rate: 78.5%
Back in September last year the average abandonment rate in fashion was at around 70%, whilst a glance at May 2013 sees this number is now getting on for nearly 80%. It illustrates how important it is for fashion brands to ensure they have a basket recovery solution in place as this really is a hell of a lot of sales to miss out on with 4/5ths of customers putting something in their basket and then walking away.
Brand Insights: Mango’s clean and simple design generates plenty of clicks.
Who knew that my name could have such an impact. I found myself standing in Tesco, practically prancing around in excitement, and why?
Because my name is beaming back at me from a bottle of Coke. Yesssss, it’s taken weeks, but finally (FINALLY!) I have one. They’d even spelt it right.
Close… but no cigar!
Funny thing is, I don’t even like Coke. Pepsi; now we’re talking, but do they print my very own name on my bottle? Nope. So I betrayed my taste buds and purchased the competitor.
In the third of our series, SaleCycle grabbed a cup of tea for 7 Questions in 7 Minutes with Bilal Adham at Monsoon.
Let’s start with a bit about working at Monsoon Bilal, what’s your favourite thing about your job?
Working with new technologies, different ecommerce platforms, affiliate marketing inititavies and being at the forefront of great ecommerce – the geek inside of me talking!
We all like to talk a good game, but sometimes it’s best to let the numbers do the talking.
One of our awesome clients were running some year-on-year analysis and trading was generally a little down compared to Q1 2012. They wanted to know if their basket abandonment campaigns were following a similar trend.
A quick look in our dashboard/reports and the numbers speak for themselves…
The first few months of 2013 have been extremely busy in online ecommerce with brands building on the momentum of a good Christmas and above average January sales.
The numbers in basket abandonment and cart recovery have been notable with a rise in abandonment rates and the ROI of each basket abandonment email sent increasing to over five dollars!
Taken from a consolidation of 200 leading global brands (including Sony, Opodo & Ralph Lauren) here’s 7 big basket abandonment stats from Q1 2013:
- 73.6% was the average shopping cart, basket and booking abandonment rate (up from 70.7% in Q4 2012)
- Most abandonments happened between 8 and 9pm – with Thursday the most common day
- 48.1% of basket abandonment emails were opened (up from 45.9% in Q4)
- 14.9% of basket abandonment emails were clicked (up from 13.5% in Q4)
ROI: Every basket abandonment email sent in Q1 delivered over $5…
- 33.3% of these clickers went on to purchase a product (up from 30.1% in Q4)
- The AOV was 58% higher for purchases from basket abandonment emails compared with direct sales (up from 36% in Q4)
- Revenue per basket abandonment email sent was $5.78 (up from $4.14 Q4)
For more information about the numbers, contact us at email@example.com
By Stephen New, Implementation Engineer at SaleCycle.
“I’ve been at SaleCycle for just under a year now, working as part of the implementation team.
When I started I was genuinely amazed at how easy it was for our code to be implemented on a client’s site – you hear the old adage it’s just ‘copy and paste’ so often, only to be disappointed – but with the SaleCycle script, it really is the best way to describe it.
I read a really interesting blog by VE Interactive last week, that focussed on the integrity of data and the reading of that data to generate transparency and visibility.
It really got me thinking and I wanted to add some more thoughts of my own.
In an industry worth £9bn (Source: IAB), it’s an absolute must to have clear and transparent results.
Without them, how can you calculate ROI or even start to assess the financial benefits of a new campaign.