Best practices and resources specifically for DTC brands to help them grow strong. Those brands are disruptive and need new strategies as they are going after incumbents.
This is because there are not as many touchpoints where you can interact with customers when compared to brick-and-mortar stores, so it’s important to make the most of what’s available.
An easy win? Customizing your packaging. How your product is presented plays a huge part in brand perception. A study found 40% of online shoppers say branded packaging makes them more likely to recommend a product to friends, while 61% say custom packaging makes the brand seem more high-end.
Sales tactics for beauty brands should inspire repeat orders. Our recent report on ecommerce metrics for beauty brands found that they enjoy around 23% retention rate on average. That’s not awfully lot. We decided to look into another ecommerce product category with an average repeat purchase rate of 31% for successful tactics to steal.
Because food is a staple and it’s the most shopped category of products. Plus, people are very attached to some brands out of habit or childhood nostalgia.
DTC brands are increasingly relying on customer retention strategies for growth. Why? Because they see how retention impacts the bottom line and gives them room to breathe, invest in new products and expansions. Scaling at a loss is no longer an option. Retention gets you revenue without the marketing budget.
In a recent survey among ecommerce companies we work with, we found that the average retention rate is about 28%. But it strongly varies across product niches – from 21% for tea to 36% for CBD products. Other retention metrics like revenue share from repeat orders, time between orders, number of orders per customer, LTV and AOV also vary across industries.
Ecommerce is strongly impacted by the current COVID-19 outbreak. Consumer trends 2020 are enhanced by the extraordinary situation. But it is early to say if it’s in a good or in a bad way. Yes, many businesses had to close down. But many others have found new customers, sold out, or grown exponentially.
Of course, the crisis is bad but it’s also a catalyst for change. People are rethinking their everyday consumer behaviors and readjusting to a more sustainable way of life. I don’t mean environmentally-friendly, although eco-awareness is on the rise as well, but a way of life they can keep up if another calamity strikes again.
This is triggering changes in customer preferences and shopping behavior that are big and very likely to stay beyond the current crisis. Here are some consumer trends COVID-19 is fueling that we think will stick.
This is an ecommerce metrics report for CBD brands selling online. The most important ecommerce metrics for CBD brands included are:
Participants: CBD ecommerce brands that agreed to take part in our survey.
Method: We extracted the data from the participants’ Metrilo accounts and ran a quick analysis.
Statista estimates the CBD market size at 1.15 billion USD sales in 2020 and reaching 23 billion in 2025. And yet, working with many CBD brands, we know CBD marketing is hard and very strictly regulated. Can you advertise CBD on Facebook? We will try to answer the most pressing questions and help you sell more CBD products online.