CleverTap, the full-stack customer retention platform that helps consumer brands maximize customer lifetime value, today released the Industry Benchmarks for Ecommerce Apps . For ecommerce brands, high customer acquisition costs (CACs) and price-sensitive buyers impact the overall customer lifetime value and profitability due to low retention. With low entry and exit barriers, customers have a plethora of options to choose from even within niche categories.
The benchmark report, which analyses 3.1 billion data points across 18 million devices and 15 million unique users, provides insights that will help growth teams benchmark their app’s performance against some of the most successful ecommerce apps. The report also covers strategies to help you improve user engagement and retention.
Almitra Karnik, Head of Marketing at CleverTap said, “The cut-throat competition in the ecommerce industry makes it crucial for brands to deliver a superior customer experience. Our research indicates that ecommerce brands are losing customers faster than acquiring them. On average, shopping apps lose 86% of users within the first 4 weeks of