A good ecommerce store is one that consistently performs well in terms of revenue. The key to being a successful Ecommerce retailer is to build a store that customers love to shop at. The most important factor in creating a store customers love is the Repeat Customer Rate. The Repeat Customer Rate is the percentage of customers who make a Repeat Purchase.
Definition and importance of repeat purchasing
The definition of repeat purchase is simple: a purchase that is made by the same customer more than once in a given period of time. The importance of repeat purchasing in an ecommerce store can not be overstated. Repeat purchasing is the fuel that drives a ecommerce store’s revenue. The more customers that make repeat purchases, the larger the store’s revenue. Another word for a repeat customer is a returning client which is more understandable to the general public.
So, what is a good repeat customer rate?
The good repeat customer rate for Ecommerce varies depending on your niche, on average it's between 20% and 40%.
If you are looking to increase your repeat customer rate for e-commerce store, get in touch with us!