AI-driven retail marketing platform Bluecore released their 2018 Retail Email Benchmark Report, offering insights to retailers about automated email campaigns and batch send performance. The report, based on data collected in the period of October 2016 to September 2017, was drawn from over 350 million emails of more than 400 retail clients.
Analysis revealed that current marketing strategies by retailers rely on “batch and blast” campaigns to promote general awareness of brands, while typically limiting their automated email activities to search and shopping cart abandonment. According to the Report, the focus by retailers on these activities is being maintained despite the value of other tailored efforts such as back-in-stock and post purchase messages.
Bluecore's research offered five key findings about retailers’ marketing and consumer activities:
- Marketers under-utilize some email contact strategies, with only one in four sending post-purchase, new merchandise, or price reduction messaging. Only one in ten reports when out-of-stock merchandise is available again.
- Consumers like reminders about technology, food, and leisure. Most verticals have 37% to 42% cart abandonment. Messages focused on technology, food, and leisure were the most likely to be opened, while generating the highest sales conversions at just under 12% for technology and 11% for food and leisure.
- Second looks at items lead to purchases, with messages featuring merchandise customers abandoned generating sales 2% of the time, four times higher than the next-most-effective tactic.
- Shoppers continue responding to decreases in product price, with one in ten clicking through to a brand website when they were made aware of a price decrease.
- If shoppers liked a product once, they respond well to viewing it again. Emails showcasing products placed in shopping carts or “window shopped”, viewed without any action, were opened 40% more often.
Bluecore CEO, Fayez Mohamood summarized the relevance the findings in a press announcement, stating, “Customer behaviors are telling retailers what they need to know to tailor their communications, but retailers aren’t always sure how to translate this knowledge tactically. Our report showcases how they can integrate product-based insights into existing marketing workflows. By not taking advantage of these activities, they’re leaving revenue and relevancy on the table.”