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Coremetrics eCommerce Progress Report Unwraps Holiday Cheer
Department Store and Intimate Apparel Sites See Highest Holiday Sales Growth
SAN MATEO, Calif., – December 17, 2007 – Coremetrics, the leading provider of digital marketing optimization solutions, today released its findings of eCommerce sales growth during the kick-off of the holiday shopping season. Based on Coremetrics’ benchmarking data for online performance, key metrics such as total online sales, number of online checkouts and average value of checkouts were compiled. The data was taken from a 12-day period starting with the Monday before Thanksgiving and then compared against 2006 over the same timeframe. Findings included:
- Department store eCommerce sites saw the highest growth vs. last year with a 37 percent increase in sales.
- Intimate apparel sites garnered the second highest growth vs. last year, seeing a 19 percent increase in sales.
- Sales for apparel sites have seen less growth with a 13 percent increase in sales and a 1 percent decrease in the average value of checkouts.
- Sales growth in the home sector came in the lowest with a 6 percent increase in sales and a 3 percent decrease in the average value of checkouts compared to last year.
“Across the board our clients are experiencing year over year growth in traffic and in shopping,” said Joe Davis, CEO of Coremetrics. “With the holidays being a critical time for most retailers, our goal with the LIVEmark Index is to arm them with a clear understanding of business performance, relative to peers and competitors, so they can effectively allocate marketing dollars to capitalize on the season.”
Vertical Retail eCommerce Growth from 2006 to 2007
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Source: Coremetrics LIVEmark
Coremetrics produced this data from LIVEmark, the company’s unique benchmarking tool that compiles aggregate performance data across more than 300 participating brands to deliver over 35 metrics addressing performance indicators such as campaign and channel effectiveness, site stickiness and conversion rates. The LIVEmark Index includes a benchmark of all participating retailers as well as 14 sub-categories. Coremetrics offers LIVEmark to its retail customers so they can compare the progress of marketing campaigns anonymously against others in their specific sector. Retail brands in LIVEmark include 1-800-Flowers, Abebooks.com, Alibris, Bass Pro Shops, Benchmark Brands, Bluefly, Cabela’s, Coach, CompUSA, PETCO, REI, Victoria’s Secret and Yankee Candle. In addition to retail, Coremetrics is expanding LIVEmark to include travel, financial services and content verticals.
Coremetrics’ vertical eCommerce growth supports projections that online sales will increase despite industry concerns of consumers scaling back discretionary spending. In an October 2007 report entitled “Outlook For US Online Retail: Holiday 2007”, Forrester Research projected that online holiday shopping will grow 21 percent over 2006.
“As a strategic measurement consultant, one of the most common questions I get is ‘how do we compare to our vertical market?’” said Eric T. Peterson, Chief Executive Officer and Principal Consultant at Web Analytics Demystified, Inc. “Unfortunately this data is difficult to come by, especially when you’re looking for retail specific measures dealing with shopping cart abandonment, campaign efforts and revenue. Coremetrics has solved this problem with their LIVEmark Index. Their clients are afforded unique access to a robust set of comparative indices, allowing them to benchmark their success against both their own incremental efforts and their industry peers.”
About Coremetrics
Coremetrics is the leading provider of digital marketing optimization solutions. Its solutions generate high return on online marketing investment and continue to pay daily dividends in improved marketing performance. Over 1,000 online business sites, transacting over $15 billion this year, are now using Coremetrics’ Software as a Service (SaaS) solution to optimize online marketing efforts. Coremetrics’ solutions encompass advanced online analytics and precision marketing applications, including search engine bid management, email marketing and cross sell applications to acquire customers more cost effectively, increase conversion rates, and increase lifetime customer value. Clients have recognized over $300M in documented ROI and 87% of clients recognize ROI in 12 weeks or less. The company is privately held with funding from Accel Partners, FTVentures, and Highland Capital Partners and is headquartered in San Mateo, California. To learn more about Coremetrics, visit http://www.coremetrics.com or call 877-721-CORE.
Coremetrics has strongly supported online privacy since its inception. To learn more, visit www.coremetrics.com/privacy.
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