Major retailers are sharing some remarkable data about the cross-channel behavior of their shoppers:
“45% of in-store visitors pay a visit to homedepot.com first”
– Hal Lawton, President Home Depot Online.
“We know that 60% of our U.S. store sales are influenced by our customers’ experience on bestbuy.com”
- Brian Dunn, CEO Best Buy
Applying those ratio’s to publically available data, you get some startling facts:
|Home Depot||Best Buy|
|Web Influenced Sales||$29,500M||$25,500M|
For every dollar in orders on HomeDepot.com the site also influences $60 in brick and mortar sales. For every dollar spent at BestBuy.com the site also generates $10 in brick and mortar sales.
Traditional e-commerce metrics report that HomeDepot.com converts 1% of it’s traffic to customers, while BestBuy.com converts 2.2%. But those metrics only tell part of the story… When you factor in the sales that start online and finish in the store, the true conversion rates are 61% for Home Depot and 25% for Best Buy. Yet, the overwhelming majority of eCommerce leaders manage their business’s for on-line sales, even though they are vastly more successful at creating brick and mortar sales.
What if retailers to started thinking about cross-channel success criteria? Would features like “Store Availability”, “Store Locator”, and “Store Hours” become more important than “Buy Now”?
Think how you might approach webstore feature sets, information architectures, user personas, usability testing, content development strategies, and ROI calculations if you knew your “happy path” was a shopper that started on-line and finished in the store.
It’s time to stop talking about “Buy Now Conversions” and “Online Sales,” and start thinking about “Cross-Channel Conversions” and “Total Influenced Sales.”
What are your favorite cross-channel metrics?