New dashboard guides merchant decisions to maximize holiday sales and allows comparison using companion industry benchmark study
Campbell, CA (August 29, 2016) – Magento Commerce, the worldwide leader in cloud digital commerce innovation, today announced its Magento Holiday Dashboard that uses a merchant’s live data to inform better commerce decisions for the holiday season. This cloud analytic service provides merchants with improved analysis of their holiday campaigns and compares their performance with competitors. Magento also announced today the companion 2016 Magento Holiday Benchmark to provide aggregated trend data across a broad set of merchants. Both the dashboard and benchmark study are immediately available.
Magento customers using the Holiday Dashboard are able to better compete for and keep holiday shoppers by tuning their customer acquisition and retention spending plans. According to the 2016 Magento Holiday Benchmark, merchants, on average, will acquire 59% more customers during holiday but, because those customers buy less and return less often, they are 13% less profitable on average. Therefore, it is critical for merchants to have access to insights into how to best serve and market to those customers and make other data-driven business decisions.
“The holiday season represents a tremendous customer acquisition and growth opportunity for merchants but if they are not keeping an eye on the right data, they can get caught up in the hype and negatively impact gross margins,” stated Bob Moore, Head of Magento Analytics. “With the Magento Holiday Dashboard, we’ve made it easier than ever for merchants to deploy data-driven strategies to grow their business before, during, and well beyond the holiday season.”
Key capabilities of the Magento Holiday Dashboard include:
- Customer Acquisition: Identify the source of your most valuable holiday customers and invest marketing dollars in the highest-impact channels
- Customer Retention: Discover the best times to email your existing customers with targeted holiday campaigns
- Improved Productivity: Provide your team with a single source of the truth and centralized goals to drive holiday performance
- Magento Holiday Benchmark: Measure your holiday performance against competitors and gain new insights on industry trends and averages with this companion study
“The Magento Holiday Dashboard and benchmark study gave us insights that helped to increase our holiday campaign ROI by 70 percent,” stated Johannes Radig, Head of Growth at Truly. “The data gave us a stronger understanding of our customer lifetime value, so we’re a lot smarter at identifying growth opportunities before, during and after the holiday season."
The Magento Holiday Dashboard is powered by Magento Analytics, the leading analytics cloud service for commerce platforms. Magento Analytics was created by RJMetrics, a company recently acquired by Magento. To learn more about the Magento Holiday Dashboard or to download a complimentary copy of the Magento Holiday Benchmark, visit https://rjmetrics.com/holiday