Are Shoppers Buying on Company Time?
Coremetrics Industry Benchmark Reveals Online Shoppers Most Likely
To Browse and Purchase During Business Hours on Weekdays
San Mateo , Calif.—November 14, 2005—While the internet may allow for shopping twenty four hours a day, seven days a week, the reality is that online consumers do most of their browsing and buying during business hours on weekdays . According to data from the LIVEmark Index released today by Coremetrics, the leading provider of hosted Web analytics and precision marketing solutions, leading retail sites received 40% more visits and 53% more purchasing visits on weekdays than they did on weekend days during the month of September. A majority of these weekday visits and purchases occur during daytime hours.
"eCommerce companies seeking to cost effectively reach consumers must pay special attention to the timing of their campaigns. For example, as the LIVEmark Index for September shows, daytime hours are a critical time to reach customers since they are more likely to make purchases—despite the fact that weekdays tend to be a challenging time for marketers to launch targeted campaigns and offer promotions," said Joe Davis, president and CEO of Coremetrics. "Coremetrics delivers intuitive visualization of online behavior data by the hour for marketers, enabling them to pinpoint when shoppers are most likely to visit, convert, and adjust their promotional strategies appropriately."
LIVEmark data regarding online traffic points to the importance of daytime hours to marketers wishing to capitalize on consumer browsing behavior. Data collected for the month of September, 2005, revealed that 62% of weekday visits to participating LIVEmark sites occurred during daytime hours, between 8:00 AM and 6:00 PM Central Standard Time (CST). In contrast, only 26% of weekday visits occurred in the evenings between 6:00 PM and midnight CST.
Conversion data revealed that visits during daytime hours on weekdays were 15% more likely to result in a purchase than visits during the evening. Site visits and purchasing visits for leading retailers peaks at mid-day on weekdays, between 1:00 and 2:00 PM CST, making mid-day promotions especially important to product exposure and sales.
The LIVEmark Index is the industry's most comprehensive benchmark for eBusiness performance, providing critical comparison data for site-wide key performance indicators across more than 175 leading retail brands. LIVEmark participants gain a clear understanding of business performance relative to peers and competitors so they can effectively allocate marketing spend, anticipate industry threats and trends, and make strategic decisions about site, marketing and merchandising efforts.
The LIVEmark Index includes a benchmark of all participating retailers as well as nine sub-categories: Apparel, General Merchandise, Gifts, Home, Office & Electronics, Pets, Specialty Retail, Sports & Outdoors, and UK Retail. The LIVEmark Index will expand over time to include additional industries and categories.
LIVEmark is generally available to the global online retail industry. Organizations who wish to access benchmark data must contribute site data to the LIVEmark Index. For more information, please call 877-721-CORE.
About Coremetrics
Coremetrics is the leading provider of on-demand Web analytics and precision marketing solutions, offering the industry's only Web analytics platform that captures and stores all customer and visitor clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles. Representing the single most accurate and comprehensive source of online customer data, LIVE Profiles serve as the foundation for all successful eBusiness initiatives. Leading online brands rely on Coremetrics LIVE Profiles to monitor and optimize the performance of multiple marketing campaigns, improve cross sell and multichannel initiatives, and precisely target customers through intelligent marketing campaigns. Coremetrics services more than 600 clients and has delivered over $300 million in documented ROI in the past two years. The company is privately held with funding from Accel Partners and Highland Capital Partners and is headquartered in San Mateo , California with offices in Austin , Texas and London , England . To learn more about Coremetrics, visit 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 .
###
Coremetrics is the trademark of Coremetrics, Inc. Any other marks used in this document are trademarks or registered trademarks of the manufacturers or marketers of the products with which the marks are associated.
