Key Insights From WooCommerce Survey 2024 – WP Tavern

WooCommerce has unveiled the outcomes of its 2024 summer survey, shedding mild on how retailer homeowners, builders, and companions gear up for Black Friday Cyber Monday (BFCM) and the vacation buying rush.

Listed below are the important thing takeaways from the survey:

BFCM Gross sales Account for a Main Share of Annual Income

BFCM performs an important position for on-line retailers, contributing to roughly 30%-50% of their yearly gross sales. The survey revealed that 66% of shops reported elevated gross sales throughout the vacation season, highlighting its significance for companies. Actually, for some shops, as much as 50% of their annual income comes from this era alone.

• 46% of shops see as much as 30% of their yearly gross sales throughout this time.
• 26% generate over 30% of their annual gross sales.
• 8% surpass 50% of annual gross sales throughout BFCM.

Shops & Early Planning

Bigger shops with annual revenues of $250K+ are 12% extra prone to start preparations early. In whole, 81% of stores actively plan for BFCM promotions.

• 26% of shops start planning 1-4 weeks earlier than BFCM.
• 27% begin preparations 1-3 months forward.
• 13% dedicate 3-6 months to preparation.
• 4% begin greater than 6 months upfront.

Preparation Ways & Methods

26% of shops deliberate to extend stock as their main preparation technique. This was adopted by advertising and marketing, promotions, and web site optimization.

With regards to advertising and marketing channels:

• 29% of shops discover e mail the simplest, adopted by natural social media (25%).
• Different common channels embody paid social (13%), search adverts (8%), and content material advertising and marketing (6%).

For the 2024 vacation season, 34% of shops are adjusting their methods, specializing in:

• Introducing new merchandise (26%)
• Bettering advertising and marketing efforts (24%)
• Enhancing web site efficiency (16%)
• Beginning gross sales early (10%)
• Providing particular reductions (9%)
• Making adjustments to buyer engagement, social media, and stock administration completes the checklist.

Multi-Channel Gross sales

The survey additionally famous that 67% of shops promote via a number of channels, together with bodily places and on-line marketplaces. Particularly, 11% of shops promote on Amazon, 8% promote on Etsy and 6% promote on eBay.

Buyer Engagement & Analytics

A major 91% of shops use analytics instruments like Google Analytics, WooCommerce Analytics Dashboard, and Meteorik to guage marketing campaign efficiency. Regardless of the busy season, 89% of shops don’t implement a particular refund or return coverage 

Woo’s Chief Advertising Officer, Tamara Niesen, has shared more insights on the survey outcomes on the WooCommerce weblog.