SOURCE: MarketLive

MarketLive

April 26, 2010 12:00 ET

MarketLive Performance Index™ Indicates Economic Recovery; MarketLive Merchants Increase Revenues 14% Year Over Year

Leading Merchants Must Continue to Innovate and Devise New Strategies to Capitalize on the Recovery

PETALUMA, CA--(Marketwire - April 26, 2010) -  MarketLive, Inc., the leading eCommerce software and service provider for midsized specialty retailers, today released the MarketLive Performance Index™ Volume 11, Q1 2010 Update: Capitalizing on the Recovery. The report showed MarketLive merchants increased revenues by 14% year over year, handily beating the average increase of 10% for other eCommerce retailers.

"The first quarter was closely watched by our customers and by all retailers," said Mark Pierce, Chief Executive Officer of MarketLive. "Many continue to question if the recovery shown in the second half of 2009 can be sustained. For the first quarter of 2010 the wait is over, and the news is good -- year over year, merchants' performance skyrocketed, indicating the economic recovery may be a sustained reality, not just a seasonal phenomenon."

In fact, according to the MarketLive Performance Index Volume 11, shoppers who stayed on sites, browsed, and added items to carts rose from 8.63% to 10% -- a jump of nearly 16%. The substantial improvement in the engagement rate, coupled with a nearly-flat abandonment rate, led to an increase in the overall conversion rate of nearly 20%, from 3.62% to 4.33%, and revenue gains of nearly 14%.

Three Strategies to Drive Growth
Even with a sustained recovery, eCommerce merchants must continue to innovate as the year progresses, and devise new strategies now for driving even stronger results in the Q4 2010 peak holiday season. According to the MarketLive Performance Index v11, the top three ways merchants can improve their sites include:

1) Create individualized experiences. Consumers have more online shopping choices than ever, and they expect sites to deliver relevant promotional offers and to display products that precisely match their needs. For that reason, fully 55% of businesses will invest in personalization or recommendation technologies for their online sites in 2010, according to Forrester Research. The MarketLive Performance Index shows the payoff of personalization can be substantial.

2) Integrate the voice of the customer. Merchants continue to invest heavily in social tools that give buyers the opportunity to share feedback and that capitalize on the power of referrals to boost brand visibility across the Web. The top three features for 2010, according to Forrester, include reviews, shopper-driven finding tools, and new destinations to share and exchange information.

3) Smooth transitions across channels, sites, and devices. "Web-influenced sales" -- those purchases that begin with research and comparison shopping online and end with an in-person purchase, either over the phone or in a physical store -- accounted for 46% of all sales in 2009 and will grow to 53% by 2014, according to Forrester.

MarketLive will reveal full findings from the current report on Monday, April 26 at the MarketLive Summit 2010 Conference. The report will also be presented in a free webinar hosted by Internet strategist and MarketLive founder Ken Burke on April 29, 2010. Interested retailers can register for the webinar and to receive a copy of the report: www.marketlive.com/index11.

The MarketLive Performance Index represents the pulse of e-retailing by aggregating data from a robust range of merchants and tying the findings to actionable tactics that drive eCommerce success. Using previously undervalued performance metrics, the MarketLive Performance Index provides a holistic view of consumer behavior.

About MarketLive
Since 1995, MarketLive, Inc. (www.marketlive.com) has provided enterprise-class eCommerce retail technology and services that help fast-growing companies successfully sell goods and services online. Designed to meet the unique requirements of catalogers, retailers, direct marketers, and manufacturers, the extensible MarketLive® eCommerce Suite and MarketLive's best practices-based Intelligent Selling® methodology enable merchants to enhance their customers' experience online while dramatically improving acquisition, conversion, and retention rates. The MarketLive platform is the most retail-targeted, fully featured, customizable eCommerce solution on the market today. MarketLive powers successful retail eCommerce sites, including Peruvian Connection, Bon-Ton Stores, Sports Chalet, Vanity Shops, Gaiam, Helzberg, Party City, ArmaniExchange, and many others.

Contact Information

  • Contact:
    Kelli Tejada
    MarketLive, Inc.
    415.271.9820
    Email Contact