Here, the IndieCommerce team shares an important look at current trends in the world of e-commerce.
The ecommerce conversion rate (the percentage of customers who complete an online transaction) jumped from 4.47 percent on Monday, March 1, to 5.62 percent on Tuesday, March 2, following news reports that specific Dr. Seuss titles were being pulled from distribution by their publisher. This sales rush overflowed into secondary markets, such as eBay, where some used titles were selling for as much as $500 per copy.
Along with the conversion rate jump on Tuesday for IndieCommerce and IndieLite stores, traffic also increased by 27 percent.
Tuesday’s spike in the conversion rate typifies how quickly a news event can cause sudden and unexpected online traffic and sales.