Tag: USA

Your conversion rate, the number of people who make a purchase divided by the number of people who visit your site, is a critically important number to your online retail business. This number is the final arbiter of your success, it combines the results of your traffic generation activity with your website function, content and pricing to determine how many people who get to your site actually buy from you.

Conversion rates vary dramatically from the phenomenally high rates by retailers such as Schwanss 35.2 percent (food seller), and Keurigs 31.3 percent (single cup brew system), to the typical conversion rate for ecommerce of 2 to 3 percent. In this article we have gathered comparison data that you might use to think about your site’s conversion rate.

Top Ten Retailers U.S.

The chart below shows the top ten online retail sites conversion rates in the USA.

Top Ten Online Retail Conversion Rates
WebsiteConversion Rate
Schwans 35.2%
Keurig 31.3%
ProFlowers 26.0%
Vitacost22.5%
Blair 22.4%
DrsFosterSmith.com 22.4%
Woman Within 21.3%
Amway Global 20.5%
Roamans.com 18.7%
Office Depot 17.9%

The top retailers have high name recognition, a known, easy to understand product and as you will see if you visit these websites, an easy to use website.

Conversion Rate by Website Type U.S.

When you look at how online retail sites do by type of site, catalog sites are consistently better performers than any other type.

WebsiteConversion Rate
Catalog5.8%
Software3.9%
Fashion and Apparel2.3%
Specialty1.7%
Electronics0.50%
Outdoor and Sports0.40%

Among catalog sites, there are some real winners and obviously enough low conversion rate sites to bring the average rate down.

Top Catalog Site Conversion Rates U.S.

Type of site Conversion rate
Lane Bryant Catalog24.7%
QVC16.7%
Oriental Trading Company15.2%
Blair.com14.5%
Jessicalondon13.7%
Symantec13.5%
Roamans 13.5%
The Sportsmans Guide12.2%
Christianbook.com11.9%
Lillian Vernon11.8%

If you operate a catalog site, these are the retailers to learn from. Take a moment to go to these websites and put yourself through the customer experience, looking for strategies that you can apply on your own site.

U.K . Online Retailers Conversion Data

Core Metrics, a U.K. based web intelligence and analytics group published the information in the table that follows for U.K. online retailers. As you can see, the U.S. and U.K conversion rates are very similar.

Although the changes from 2008 to 2009 are slight, almost all of the movement is in the wrong direction. Average items per order, shopping cart conversion rate and new visitor conversion rate are all down. Shopping cart abandonment is up. The slight increase in the average order value might not be statistically significant.

Mar-09Feb-09% Change
(m/m)Mar-08 % Change
(y/y)
Average Items/Order2.352.321.32%2.52-6.89%
Average Order ValueGBP57.09GBP55.303.24%GBP56.960.22%
Shopping Cart Conversion Rate49.90%47.47%5.12%52.25%-4.50%
Shopping Cart Abandonment50.10%52.53%-4.63%47.75%4.92%
New Visitor Conversion Rate3.04%2.75%10.55%3.27%-7.03%

Core Metrics also provided interesting information about the value of site search capability. Their data shows that when site search is used, which occurs about one third of the time, the conversion rate jumps to nearly eight percent, though the average order value decreases by about GBP15.

This information seems to suggest that when a visitor can search for precisely what they are looking for, they tend to buy less, possibly zeroing in on just the item they are seeking. This kind of data may make you wonder if you want to sacrifice GBP15 for the higher conversion rate.

However, you probably should not draw too many conclusions by comparing the two sets of conversion data because the earlier chart depicts new visitor conversion only, the second chart illustrates overall conversion based on search. It is difficult to know what factors are playing a part in the difference.

Mar-09Feb-09% Change
(m/m)Mar-08 % Change
(y/y)
On-Site Search Session29.67%31.76%-6.58%33.05%-10.23%
On-Site Search Conversion Rate7.59%7.04%7.81%8.60%-11.74%
On-Site Search Average Order ValueGBP42.90GBP40.585.71%GBP43.67-1.78%

On the other hand, it does seem to be true that some impulse buying is lost when the on site search function is utilized. Under the circumstances, the best strategy is to be sure that you have optimized the buying opportunity within the sales strategy and throughout the checkout, e.g., organize search results to bring up best sellers first, place cross sell items on the same page, introduce sales items during the check out process.

Benchmarking is an excellent way to think about your own site. Calculate your own numbers, compare them to the benchmarks and figure out why they are different, where you have an opportunity to improve and how you might do so.

Jindal Steel and Power Ltd. Unveils New
Retail Identity, Jindal Panther

~ Introduces TMT Rebars as the first product under new brand name ~
~ Jindal Panther TMT Rebars come with a higher degree of strength, ductability, malleability and superior seismic resistant properties ~

New Delhi, August 5, 2013: Jindal Steel and Power Ltd. (JSPL), Indias leading steel and power company today announced the launch of a new retail brand, Jindal Panther in India. The brand is inspired by the Black Panther, a powerful feline synonymous with strength, agility and rebirth.
The first product to be launched under Jindal Panther is the Jindal Panther TMT Rebars, signifying the company’s foray into the retail product segment. The new generation premium quality ribbed Thermo Mechanically Treated (TMT) Rebars have a higher degree of strength, ductility and malleability, yielding the best results for all constructions needs.

Speaking at the launch of Jindal Panther, Mr Ravi Uppal, MD and CEO, Jindal Steel and Power , At JSPL, our brand values are rooted in excellence, innovation and commitment to world class quality as envisioned by our founder Sh. O.P Jindal. Our entry into retail is spurred with an aim to provide top quality reinforced bars to the housing segment. Jindal Panther TMT Rebars have been inspired by the strength and agility of the powerful Panther and promises to empower every Indian home by offering strength and purity to its construction. With this we aspire to serve the emerging needs of infrastructure in the country.

Jindal Panther TMT Rebars have been made with superior quality steel billets with a restricted level of Sulphur and Phosphorus, a maximum of 0.055% to comply with the latest BIS (Bureau of Indian Standards) specifications. The manufacturing process uses the worlds most advanced Morgan Rolling Mill deploying HYQST (High Yield Quenching & Self Tempering) TMT technology, making it more strong and ductile.

Jindal Panther TMT Rebars aims to break the acronym mould of the category, and engage with the end customers to cater to varying housing and construction needs. The high strength, bendability and weldability factors allow the TMT rebar to withstand shock loading and cyclic loading conditions making it an ideal choice for buildings in high seismic zones. Made with consistent mechanical and chemical properties for both residential as well as industrial projects, the TMT rebars have been made available across retails outlets, integrated with a channel network of 40 distributors and over 1000 dealers.
The TMT rebar is being produced at the TMT Rebar mill at Patratu, Jharkhand with a production capacity of 1.0 MTPA, using the leading Siemens rebar production technology from USA.

The mill produces high strength rebars confirming to IS 1786:2008 in Fe 500D, Fe 550D & Fe 600 grade in normal, EQR & CRS quality.
About Jindal Steel & Power Limited (JSPL)
Jindal Steel and Power Limited (JSPL) is one of Indias major steel producers with a significant presence in sectors like Steel, Mining, Power Generation and Infrastructure. With an annual turnover of over US$ 3.5 billion, JSPL is a part of the over US$ 18 billion diversified O. P. Jindal Group. In the recent past, JSPL has expanded its steel, power and mining businesses to various parts of the world particularly in Asia, Africa and Australia.

The company produces economical and efficient steel and power. From the widest flat products to a whole range of long products, JSPL today sports a product portfolio that caters to major infrastructure & housing projects in the country. It also has the distinction of producing the worlds longest 121 metre long rails and large size parallel flange beams, high strength angle irons for transmission towers and high strength earthquake-resistant construction rebars.

The company is equally concerned about the environment and is committed towards restoring natures balance by maintaining a clean and green environment. JSPLs Corporate Social Responsibility policy aims at bringing about a radical transformation in the quality of peoples lives in and around the operation areas of the company through positive intervention in social upliftment and revenue generation programs.

Note:
Panther TMT Rebars Features that Distinguish
1) Jindal Panther TMT Rebars have precise, uniform and parallel rib pattern engraved through computer controlled notch making machines, which results in excellent bond strength with concrete. Parallel ribs on Jindal Panther TMT Rebars have been produced by a high-speed finishing block which is an ultra-heavy-duty block using Tungsten Carbide rings that imparts close dimensional tolerance and superior surface finish.
2) Jindal Panther TMT Rebars have been proven to have higher resistance to cyclic loading and are recommended for earthquake prone areas due to their superior seismic resistant properties. The TMT Rebar meets international specifications for the UTS/YS ratio imparting high ductility and strength. Higher UTS/YS ratio and more percentage elongation signify that the steel is capable to strain harder, in the event of an earthquake.
3) Jindal Panther TMT Rebars have excellent bendability (in spite of their high strength) facilitating easy bending, making work easier and faster at construction sites. This coupled with low carbon content leads to superior corrosion resistant properties as compared to any ordinary rebars.
4) The quenching at 1050 degree celsius and the self-tempering treatment at a temperature of approximately 650C results in a consistent and thick layer of tempered martensitic-ring on the outer surface of the rebar imparting higher capacity to retain strength at elevated temperatures.

For further information, please contact:
Atul Malikram
+91 9827092823

There is a lot of confusion about retail barcode numbers. It is common for the manufacturer of a few retail products to suddenly be told that one of their wholesalers or retailers wants barcodes on the products. So, suddenly, the manufacturer is thrust into the mysterious world of retail barcode numbers.

Common questions quickly arise. What is a barcode number? What type of barcode number do I need? Where do I get a barcode number for my products? Do I have to pay annual fees for a barcode number? How do I get the barcode image onto my product? Is there a central database where I need to register my barcode number? These questions and many others are faced by the manufacturer.

To help relieve some of the mystery, we want to help answer these common questions.

Barcode numbers are purely a unique number that is represented by a series of dark bars with light gaps between them. The actual number of the barcode is usually written below the bars. Barcode numbers come in many different formats. The most common retail barcode number is an EAN-13 barcode. These are 13 digit numbers, with the first 12 digits being allocated and the last digit being a calculated checksum, which is based on the values of the other digits. EAN-13 barcode numbers are commonly used on retail products throughout the world. It is important to note that there is no product information encoded in a barcode number it is purely a unique number. When a retailer first receives the barcoded product, they either scan the barcode or type the number into their system, & also enter the product details, price, reordering info etc. After this, when they scan the barcode, the specific product information appears on their screen.
UPC-A 12 digit numbers are also commonly used in the USA. These US format numbers are basically the same as EAN-13 numbers, but have one less digit. UPC-A numbers are effectively a subset of the EAN-13 number system.

There are 3 main ways to get a barcode number.

Firstly, you can make one up. However, this is definitely not recommended. An essential element of the barcode number system is the importance of ensuring all the numbers used on retail products are unique. Hence, if you just make up a number, there is a high chance of someone else having the same number on a different product. If this happens, you have effectively stolen their number and are potentially liable for reprinting packaging, product recall and other damages incurred, so it isnt worth the risk.

Secondly, you can join an international organisation that is the controller of most retail barcode numbers. Joining this organisation requires the completion of membership forms, provision of your companies financial information, payment of a joining fee and also payment of annual fees. Many manufacturers find this to be a complex and expensive process far more than they expected for something they expected to be simple buying a barcode number.

Thirdly, you can purchase a barcode number from a reputed barcode reseller. These barcode resellers, such as Barcodes Limited in New Zealand, usually own a large group of barcode numbers that originate from the UCC or GS1-US, part of the international controlling body, but are outside their licensing system. Hence these barcode resellers are able to sell the barcode numbers for a relatively cheap one-off price, and usually dont charge any joining fees or annual fees. These Barcode Resellers are usually internet based, as you dont need to physically collect a product from them, and they operate from websites such as barcodes.co.nz. If you are considering purchasing a barcode from a Barcode Reseller, ensure you read their site carefully, and also look for testimonials from satisfied customers who are using their barcode numbers.
Actually, there is a fourth way to get a barcode number you can purchase one from a dodgy barcode reseller but this could be as dangerous as the first option of making up your own number, so it isnt recommended.

Once you have your barcode number, which you have probably purchased from a Barcode Reseller, it is reasonable easy to get the barcode on to your product. Usually you will receive barcode images when you purchase your barcode number, so all you need to do is incorporate one of these images into your product packaging artwork. The standard size EAN-13 retail barcode is 25mm x 37mm. Officially they can be reduced to 80% of size ie to 20mm x 30mm. If you have already printed your product packaging, then the easiest thing to do is purchase some barcode labels. These labels usually come in rolls of 500 or 1000 labels, and are relatively inexpensive.

Finally, there is no central database where you need to register your barcode number. Once you have your barcode number on your packaging, your product is ready to go to the retailers. You can then sit back and enjoy that well-earned cup of coffee.

Any business owner with a retail shop on the high street has probably been praying every night since December 2008 that a rush to the High Street will materialise and translate into sales.

The final weekend before Christmas saw High Street footfall down by 8.7% compared with 2007 and with figures showing a slide of between 10%-15% for year on year figures for the week commencing 15th December, you could argue that this Christmas is on course to be one of the worst ever for Retail Business owners.

These figures are bad news for struggling retailers, many of which are struggling to survive. Retailers whose main products are linked to the housing market are likely to be worst hit and the recession looks set to worsen with the ever increasing rises in unemployment figures taking their toll on job security fears.

For anyone who knows what it is like to start their own business, secure substantial borrowings to be able invest in the inevitable start up costs a retail business needs, stock, rent, rates and shop fittings to name but a few but slowing footfall, a shrinking economy, a falling pound and rising unemployment do not really form part of the ideal business plan.

Despite all these economic factors the internet is clearly bucking this trend and can easily provide a solution to independent retailers who can think outside the box. The answer does not simply lie in having a website designed to sell your shop items online, without a high margin product line it may end up costing you more to advertise than you would gain in revenue. There is also very little knowledge to be found offline about internet marketing and how to use the strategies effectively to make sure your business survives and grows online.

If you are looking to supplement your retail business profits during the recession, you may want to investigate adding a network marketing business to your existing business. We have already seen people such as Donald Trump and Robert Kiyosaki set the trend by endorsing the business model itself but it makes sense to make use of the skills you already have as a business owner when the market trend is so obviously pointing to a survival of the fittest scenario.

95% of business opportunities and network marketing businesses attract people who have no previous experience in business. They know very little about sales and marketing and the idea of spending money advertising and marketing their business is usually alien and is executed from the mindset of cost rather than from the return on investment that a business owner would know and understand. This provides opportunity for entrepreneurs that remain largely untapped.

If the thought of opening up those shop doors every day fills you with dread, make sure you have considered all the possibilities that are open to you. There is no shortage of footfall on the internet; Forbes Magazine has estimated that around half a million people will be looking to start a home based business every month in the USA alone in the coming years.

Retailers already have the skills set that over 95% of opportunity seekers do not possess this is how an internet business opportunity can help save your retail business whatever the economy predictions are.

For more opportunities for small business owners check out my business blog http://www.offroadmlm.com