Benchmarking System allows e-tail data to be compared to test group.
UK e-retail association IMRG has partnered with social commerce specialists Affino to launch its first e-retail Benchmarking System, allowing retailers to measure their performance data.
The first of its kind, this automated system allows online retailers to measure their performance data against a test group of retailers, such as emerging fashion companies, on a daily basis from a PC, tablet or smartphone.
The system is designed to offer instant access to “business critical KPIs”, such as average basket value, unique visitors, checkout abandonment and conversion rates on a personalised dashboard.
The IMRG’s Benchmarking System allows users to measure up to 12 months of user behaviour, traffic and overall performance and then make a comparison against the rest of the e-retail market. Benchmarks can be filtered to suit the company, with each KPI displayed as an interactive and easy-to-read graph.
IMRG managing director Graeme Howe, commented: “IMRG have been providing the e-retail Industry with benchmarking information for over 14 years and this new system represents a significant leap in the service we can provide to our retail members.
“Retailers will be able to view critical KPIs such as conversion rates over desktop, smartphone and tablet on a daily basis and safe in the knowledge that the system is secure. Affino have provided innovative thinking and delivered something we feel will add great value to online retailing.”
Affino chief executive officer Markus Karlsson, added: “We are very proud to be working closely with the UK’s leading association for e-retail. We both share a passion for innovation and smart analytics, and believe we have together created a really smart tool for empowering retail businesses to continually improve their performance.”
With over 1,000 retail members, IMRG has launched its new e-retail Benchmarking System as an addition to its series of monthly and quarterly Indexes (e-Retail, m-Retail, Quarterly Benchmarking and Delivery) for the e-retail industry.