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1、eCommerce Benchmarks&Insights for Multichannel Consumer Electronics BrandsHow MikMak Helps Consumer Electronics Brands Grow,Commerce-First2024 eCommerce GuideTable of ContentsIn this report,we will examine the trends of four major markets for Consumer Electronics eCommerce:the U.S.,the UK,France,and
2、 Germany.All of which are considered major markets for this industry.Using data collected from The MikMak Shopping Index,we can discover new insights about how consumers are shopping and what brands should prepare for the future.OverviewGlobal Overview3Accelerate Sales&Market Share16Drive Profitabil
3、ity&Reduce Costs2244United States7United Kingdom10France13GermanyConsumer Electronics eCommerce by Country:CONSUMER ELECTRONICS(WORLDWIDE)Global Overview:Consumer Electronics eCommerce is Growing Fast,especially among MillennialsAccording to Statista,the revenue generated in the Consumer Electronics
4、 market worldwide is projected to reach a staggering U.S.$1,046.0bn in 2024It is predicted that by 2024,online sales will account for 33.5 percent of the total revenue in the Consumer Electronics marketConsumers ages 25 to 34 years old are most likely to buy Consumer Electronic products,according to
5、 Digital Commerce 360 Source:Statista Market InsightsConsumer Electronics eCommerce in the U.S.In 2024,the U.S.Consumer Electronics market is projected to reach$159.9 billion,and is anticipated to grow annually at 1.54 percent till 2028,according to Statista Nearly five in ten U.S.consumers say they
6、 search for Consumer Electronic product information online before purchasing,substantially more than in any other product categoryConsumer Electronics represents one of the largest opportunities for social commerce,a sector of commerce expected to reach$99 billion by 2025When comparing Q1 2023 to Q1
7、 2024,Consumer Electronics saw a 137 percent increase in Purchase Intent Clicks*,or in-market eCommerce traffic over the year.Major traffic peaks for Consumer Electronics were near the end of the year,the highest being on Tuesday,October 10th(2023s Amazon Prime Day).Other peak dates include October
8、9th,October 1st,November 21st,November 24th(Black Friday),and November 25th.However,the MikMak Shopping Index revealed that the beginning of the year(February,March,and January)saw the most traffic overall.U.S.eCommerce Traffic for Consumer Electronics is skyrocketingThe number of times a shopper ha
9、s clicked through to at least one retailer during a single session.Purchase Intent Clicks:Top Months for Online Consumer Electronics Traffic in the US,by Purchase Intent ClicksPeople spend a lot of time on the journey of deciding what kind of technology to buy and then on starting to adopt and maxim
10、ize the journey that theyve made.So the customer journey for technology is longer than for cpg in general.-Keith Bryan,PresidentLISTEN HEREWhen looking at the top days of the week,the MikMak Shopping Index revealed that Tuesdays see the most traffic from online shoppers,followed by Mondays and Wedne
11、sdays.Tuesday is the most popular day U.S.consumers shop online for Consumer Electronics1.Tuesday2.Monday3.Wednesday4.Thursday5.Sunday6.Friday7.SaturdayTop Days of the Week for Online Consumer Electronics Traffic in the U.S.,by Purchase Intent ClicksAccording to the MikMak Shopping Index,Amazon driv
12、es the most traffic to Consumer Electronics in the US,seeing 21.8 percent of Purchase Intent Clicks.Meanwhile,Best Buy follows at 8.5 percent.B&H is third at 8.4 percent.Sweetwater and Guitar Center follow at 4.9 and 4.4 percent,respectively.Other miscellaneous retailers make up the remaining Purcha
13、se Intent Clicks.Amazon is the top retailer for U.S.Consumer Electronics brandsTop Retailers for Consumer Electronics in the U.S.,by Purchase Intent ClicksConsumer Electronics eCommerce in the UKBetween 2024 and 2029,the revenue in the UKs Consumer Electronics eCommerce market is projected to rise b
14、y a total of$5.6 billion(+28.17 percent)According to Statista,the UK Consumer Electronics eCommerce Market is estimated to reach$25.48 billion by 2029According to Circana,67 percent of UK consumers who purchased Consumer Electronics in the past 12 months say they are most likely to shop online for t
15、hese products While online traffic for Consumer Electronics decreased between Q1 2023 and Q1 2024,interest from online UK shoppers remains high,likely influencing offline sales as well.The MikMak Shopping Index revealed Consumer Electronics brands see the most traffic in the UK near the end of the y
16、ear,with November driving 42.3 percent of Purchase Intent Clicks.Major peaks in 2023 occurred on November 4th,November 3rd,November 8th,November 6th,and November 7th.In the UK,November is an especially hot time for Consumer Electronics shoppersTop Months for Online Consumer Electronics Traffic in th
17、e UK,by Purchase Intent ClicksWhen looking at the top days of the week,the MikMak Shopping Index revealed that Mondays see the most traffic from online shoppers,followed by Tuesday and Sunday.Monday is the most popular day UK consumers shop online for Consumer Electronics1.Monday2.Tuesday3.Sunday4.W
18、ednesday5.Saturday6.Friday7.ThursdayTop Days of the Week for Online Consumer Electronics Traffic in the UK,by Purchase Intent ClicksAccording to the MikMak Shopping Index,Currys drives the most traffic to Consumer Electronics in the UK,seeing 10.1 percent of Purchase Intent Clicks.Meanwhile,Amazon f
19、ollows at 7.8 percent.John Lewis is third at 5.3 percent.Argos and Printerland follow at 5.0 and 4.4 percent,respectively.Other miscellaneous retailers make up the remaining Purchase Intent Clicks.Currys is the top retailer for UK Consumer Electronics brandsTop Retailers for Consumer Electronics in
20、the UK,by Purchase Intent ClicksConsumer Electronics eCommerce in FranceBetween 2024 and 2029,eCommerce for Consumer Electronics in France is expected to grow by$3.6 billion(+35.64 percent)According to GfK studies,tech stores capture 56%of Consumer Electronics and Home Appliances category turnover a
21、nd continue to gain market share.eCommerce is a preferred way for French consumers to search and compare products before making a purchase.Online traffic for Consumer Electronics saw an increase of 359 percent between Q1 2023 and Q1 2024.Further,the MikMak Shopping Index revealed Purchase Intent Cli
22、cks are highest in November with 21.3 percent of clicks occurring in that month.Major peaks include November 4th,November 3rd,November 8th,and November 9th.However,March saw some comparable peaks on March 27th and March 25th.Consumer Electronics eCommerce is booming in FranceTop Months for Online Co
23、nsumer Electronics Traffic in France,by Purchase Intent ClicksWhen looking at the top days of the week,the MikMak Shopping Index revealed that Fridays see the most traffic from online shoppers,followed by Wednesday and Saturday.Friday is the most popular day in France consumers shop online for Consu
24、mer Electronics1.Friday2.Wednesday3.Saturday4.Tuesday5.Thursday6.Monday7.SundayTop Days of the Week for Online Consumer Electronics Traffic in France,by Purchase Intent ClicksAccording to the MikMak Shopping Index,PC21 drives the most traffic to Consumer Electronics in France,seeing 16.2 percent of
25、Purchase Intent Clicks.Meanwhile,Materiel Informatique follows at 11.1 percent.Maptrotter is third at 10 percent.Busiboutique and AdmiComputer follow at 9.2 and 5.2 percent,respectively.Other miscellaneous retailers make up the remaining Purchase Intent Clicks.PC21 is the top retailer for French Con
26、sumer Electronics brandsTop Retailers for Consumer Electronics in France,by Purchase Intent ClicksConsumer Electronics eCommerce in GermanyThe German Electronics eCommerce market is predicted to reach$25.88 billion by 2024 In Germany,the eCommerce Consumer Electronics market share is currently at 37
27、.9 percent and will increase by an average of 3.4 percent to reach 43.3 percent by 2028According to ECDB,Electronics is the third largest category for eCommerce,in terms of revenue According to the MikMak Shopping Index,online traffic for Consumer Electronics saw an increase of 200 percent between Q
28、1 2023 and Q1 2024.Further,the MikMak Shopping Index revealed Purchase Intent Clicks are highest in November with 29.6 percent of clicks occurring in that month.Major peaks all occurred in early November,with November 4th being the highest.November 8th,November 3rd,November 6th,and November 7th all
29、saw substantial peaks in traffic.In Germany,Consumer Electronics traffic has doubledTop Months for Online Consumer Electronics Traffic in Germany,by Purchase Intent ClicksWhen looking at the top days of the week,the MikMak Shopping Index revealed that Wednesdays see the most traffic,followed by Tues
30、days and Saturdays.Wednesday is the most popular day German consumers shop online for Consumer Electronics1.Wednesday2.Tuesday3.Saturday4.Monday5.Friday6.Sunday7.ThursdayTop Days of the Week for Online Consumer Electronics Traffic in Germany,by Purchase Intent ClicksAccording to the MikMak Shopping
31、Index,Thomann drives the most traffic to Consumer Electronics in Germany,seeing 13.6 percent of Purchase Intent Clicks.Meanwhile,Mercateo follows at 10 percent.Cyberport is third at 9.9 percent.Grubster and MusicStore follow at 8.4 and 6.4 percent,respectively.Other miscellaneous retailers make up t
32、he remaining Purchase Intent Clicks.Thomann is the top retailer for German Consumer Electronics brandsTop Retailers for Consumer Electronics in Germany,by Purchase Intent ClicksAs you see,each of these countrys Consumer Electronics markets have their own trends.Lets take a look at the larger picture
33、 and how your brand can stay top of mind for consumers.Make your products discoverableFor any brand,it is important that across all media and brand websites,shoppers can find and buy your Consumer Electronics products faster,in-store and online.Knowing the trends across markets can help your brand r
34、each consumers across the globe.Top Months for Consumer Electronics eCommerce Traffic,by Purchase Intent Clicks:U.S.,UK,France,and GermanyAccelerate Sales&Market ShareConnect Shoppers with the Retailer they PreferUse Case:Make Your Products DiscoverableSeamless Shopping48%of shoppers go online to bu
35、y Consumer Electronics for a replacement or upgradeConsumer Electronics customers are brand loyal-dont let friction along the path to purchase drive your consumers into the arms of a competitor.Protect sales with MikMaks seamless path to purchase.Retailer Preference24.4%of total Amazon eCommerce sal
36、es came from consumer electronics in 2022MikMak can partners with the retailers important to you and your business,on a global scale.Giving you one eCommerce partner and consolidating your tech stack.MikMak Commerce provides premium consumer shopping experiences that create a seamless path to checko
37、ut at any retailer,from anywhere across your entire media mix,including social media,retail media,programmatic,paid search,CTV,video,email,and brand websites.Further MikMak geolocation technology dynamically populates retailers that have your product in-stock.How MikMak makes products discoverableCo
38、nversion at Every Consumer TouchpointCommerce for MediaCommerce for Retail MediaCommerce for Direct Add to CartCommerce for Brand WebsitesTo effectively grow market share,you must know,compare,and optimize your performance against brands in your category by channel,retailer,and more.You must also un
39、derstand how performance changes over time.Beat the Competition“When we had a marketplace where there were less competitors,less channels to market in,higher bars to get into those channels,it was easier to compete.As we move through time,as the channels expand,as more competitors come on the scenes
40、,there is a greater and greater demand for marketing innovation.”-Jim Mollica,Chief Marketing OfficerLISTEN HERETop Days of the Week by Country,based on Purchase Intent Clicks1.Tues2.Mon3.Wed4.Thu5.Sun6.Fri7.SatU.S.1.Mon2.Tue3.Sun4.Wed5.Sat6.Fri7.ThurUK1.Fri2.Wed3.Sat4.Tue5.Thu6.Mon7.SunFR1.Wed2.Tue
41、3.Sat4.Mon5.Fri6.Sun7.ThuDEWith MikMak Benchmark Insights,you can see how your brand stacks up against other brands in your category.More specifically,you can identify new conversion opportunities and optimize performance over time to understand how your performance and media investment has supporte
42、d your goals.How MikMak creates competitive advantageUsing proprietary,retailer-specific consumer insights in joint planning discussions with retailers can help unlock shelf space and media value.Strengthen Retailer PartnershipsTop Retailer by Country,by Purchase Intent ClicksU.S.UKFRDEDo you know i
43、f your media investment resulted in a purchase?If so,what was in that cart?This is where MikMak Sales Insights closed-loop attribution,or the ability to tie granular consumer touchpoints like platform and campaign all the way through to purchase,comes in.Drive business impact and accelerate your eCo
44、mmerce growth by gaining visibility into your consumers shopping journey,all the way through purchases at select retailers.How MikMak helps brands strengthen retailer partnershipsMikMak has partnered with Circana for a first-of-its-kind report measuring the impact of digital marketing on offline sal
45、es.Brands can now confidently understand the influence their digital marketing has on brick-and-mortar sales.LEARN MOREImprove Marketing EffectivenessDrive Profitability&Reduce CostsDo you know where is best to invest your next marketing dollar?First,its important to understand the channels,campaign
46、s,creative,and audiences that actually convert.How MikMak improves marketing effectivenessMikMak provides the worlds leading Consumer Electronics brands with exclusive first-party consumer insights.With MikMak Insights,you can look into your performance from every angle,and dig deeper than other pro
47、vidersCollect First Party DataTo truly improve performance and lower costs,you must also own and have a consolidated view of your consumer data and audiences.Average number of items in basket for Consumer Electronic Brands:All 4 countries1.9items2.0items1.6items1.8items1.7itemsU.S.UKFRDEHow MikMak p
48、rovides first-party dataUse first-party data collected by MikMak Commerce to build and segment qualified shopper audiences within your ads managers/DSP to improve media targeting based on product interest,retailer preferences,and channel behavior.You can also retarget or build lookalike audiences to
49、 be leveraged across your entire media plan.The Custom Report Builder allows brands to build bespoke reports identifying the key variables driving purchase intent and sales with the desired metrics,dimensions,and filters in the MikMak Insights Platform.The reports can be quickly and easily shared wi
50、thin organizations,thus improving collaboration and saving brands time and money.Custom Report Builder from MikMakLEARN MOREMikMak offers one easy-to-use global platform that automatically enables consistent reporting and fast decision-making across the entire organization.With the MikMak Platform,b
51、rands can also leverage direct integrations with third-party Product Information Management(PIM)platforms including Salsify and Syndigo;as well as Data Visualization Platforms and Data Lakes like Tableau and Google Data Studio.How MikMak saves time and moneyGet the basics down.Is your Consumer Elect
52、ronics brand utilizing its brand website?Are you taking a multichannel approach with multi-retailer checkout?Are you at all the top-performing retailers in the countries where your products are available?Develop more nuanced insights for consumer relevance.Is your brands website utilizing multi-reta
53、iler checkout?Which channels are part of their shopping journey?Add the channels and retailers that resonate with your consumers to the mix.Can you expand to new formats like QR codes and CTV?Optimize your content.Keep your creative and marketing outreach focused on consumer behavior.Be agile and qu
54、ick with your data,and use insights to adjust your creative and advertising methods effectivelyExplore growth opportunities.Check your performance against category(and subcategory!)benchmarks to see how you stack up against the competition.A/B test creative and messaging to see if purchase intent in
55、creases.Were here to help.MikMak helps multichannel brands gain deeper consumer insights to grow and protect market share.Contact us at !Your Consumer Electronics eCommerce Marketing ChecklistData and insights from this report are sourced from the MikMak Shopping IndexThe MikMak Shopping Index was d
56、eveloped to provide a standardized set of metrics,methodology,and benchmarks to help drive brands business results and strategy.It is a collection of key eCommerce KPIs collected across hundreds of brands and over 250 channels and more than 7,000+retailer integrations to understand consumer online shopping behavior.All data in this report is from 03/27/2023-03/27/2024Lets chat!Want to get even more insights?Looking for a different category?Contact !