With the quiet (and sometimes not-so-quiet) murmurings of financial freedom and professional success, e-commerce can be an attractive opportunity for businesses. Given the current landscape, including the COVID-19 pandemic and resulting economic uncertainty, online selling has never been more important—nor more cutthroat.
Merchants once considering dipping their toes in e-commerce are now plunged headfirst into the deep end of online retail. To help ease some of the burden with building and growing an online business, it’s important to look at what’s been working for other sellers.
Enter: Shippo’s annual benchmarks report.
In this report, we take a look at how e-commerce websites and online advertising are performing, how much businesses are spending on shipping, and the rate of returns. The report is in partnership with CoEfficient Labs, whose top Shopify stores analysis took the internet by storm last year.
Key findings from the report include:
- Five out of the six industries—jewelry, apparel, electronics, health and wellness, and sports and outdoors—have average order values higher than $50.
- Despite experts’ warnings about slow page speeds, the average mobile page speed was more than four seconds across every industry.
- Only two out of the six industries—beauty and health and wellness—have shipping spend higher than 10 percent.
- The industry with the highest percentage of international shippers is electronics with 69,02 percent.
- One in every 10 apparel purchases are returned, likely due to the need-to-try-it-on nature of the buying experience.
- The beauty industry sees the fastest average delivery time, clocking in at 2.7 days.
For more details and insights, download the report.
We hope you find it helpful.