One main initiative provides that participants receive automatic emails when new benchmarks are added to their specific industry. Benchmarks are constantly updated and key performance indicators are measured by average order value, order return ratio, number of order lines, marketing practices, ICT and organizational expenditure, innovation priorities and many other elements.
Ongoing market research also brings helpful and important information to clients. When looking into the impact of social media, for example, eCommerce Benchmark was able to detect that 59% of all traffic comes from search engines whereas social- and viral-related traffic brought in only 4%. They also looked into how the fashion industry is affected by a 52.7% “shopping cart abandonment” rate and provided suggestions for ways to deal with and negate such consumer behavior.
Further research explored differing conversion ratios depending on industry, organizational structures in eCommerce and optimal company-to-customer e-mail frequencies, which were determined to be weekly. Any questions about the eCommerce Foundation and its initiatives can be directed at co-founder Jorij Abraham, at: jorij.abraham@eCommerceFoundation.org.