A new study published today by Barilliance, indicates that up to 31% of eCommerce site revenues were generated from personalized product recommendations during Q4 2014.
The Barilliance study analyzed revenue source data from over 300 eCommerce sites worldwide which utilize the Barilliance product recommendation engine. The worldwide average of website revenues generated from product recommendations was 12%.
The conversion rate of visitors who clicked on product recommendations was found to be 5.5 times higher than the conversion rate of non clicking customers.
Above the fold recommendations were found to be 1.7 times more effective than below the fold recommendations.
Out of the 20+ product recommendations types that were reviewed in this study, the most engaging recommendation type was ‘what customers ultimately buy’.
The Click-through rate (CTR) of personalized ‘Top Sellers’ recommendations was found to be 2 times more effective than the CTR of global (non personalized) ‘Top Sellers’ recommendations.
The findings of the study are presented in the following infographic:
- Up to 31% of eCommerce site revenues were generated from personalized product recommendations during Q4 2014