Ecommerce brands did well last year, judging by Decile’s new study: 2024: How did you stack up against industry peers?
Decile analyzed the metrics of five vertical sectors: Home goods, fashion & apparel, health & beauty, food & beverage and supplements.
What can you learn from these types of businesses, assuming you’re not working in one of them? “Benchmarking against industry averages is an important step in analyzing the overall health of a brand’s marketing program,” says Cary Lawrence, CEO of Decile.
With that in mind, Decile reports the home goods category had the highest average order value by far. But it also pulled the lowest retention rate.
Here are the average order metrics:
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Home Goods also led in revenue per customer:
Perhaps because some home goods products are high-ticket, the category was last in terms of purchase frequency:
Home Goods also was last in its repurchase rate:
In addition, Home Goods was at the bottom in terms of the retention rate:
However, Home Goods also topped the list when it comes to the Lifetime Value (ltV: Customer Acquisition Cost Ratio:
And Home Goods beat out other sectors in the First Order Payback rate:
“While 2024, was not without its macro-environmental challenges, it seems the ecommerce landscape remains on an upward trajectory in terms of improving its effectiveness in attracting and retaining customers,” Lawrence concludes.