ATHENS – An increase in both traffic and the Conversion Rate, which is the critical indicator for the conversion of consumer interest from visiting an e-shop platform to making a purchase, was noted this year in online stores during the period of Black Friday offers, in relation to last year, according to data from the Generation Y business-customer database.
In particular, the particular success of this year’s Black Friday time period compared to 2021 was not only focused on the significant increase in daily visits by 44.1% but mainly on the increase in the Conversion Rate by 30.2%, and as a result the specific index reached 3.4%. In simple words, 3.4% of visitors to electronic stores (e-shop) made a purchase.
According to international standards in the field of commerce, achieving a Conversion Rate of more than 3% is considered a success, as the average – even in the case that an online store has gone through all the individual steps required – has a Conversion Rate between 2.5-3%. Every additional increase implies a significant increase in business revenue.
In individual e-commerce sectors, according to the data of Generation Y, the following metrics were observed:
– In the e-pharmacy sector, daily traffic, compared to last year, increased by 51.6% and the Conversion Rate per day was 4.17%, which is considered a particularly high rate, showing an increase compared to last year by 10.8%.
– In the fashion and sportswear industry, there was a 46.2% increase in traffic compared to last year, and the Conversion Rate was 3.04%, an increase compared to last year by 26%.
Generation Y, a member of the “Growth, Prosperity & Abundance (GPA)” Group, has more than 2,000 companies in its clientele from a wide range of individual sectors of the economy, having completed more than 2,500 digital transformation projects.