Klaviyo: E-Commerce Industry Report 2024

Customer acquisition costs for retailers have been rising, but e-commerce marketers aren’t worried. According to research from Klaviyo, e-commerce marketers around the world are more focused on acquiring new customers than any other strategic priority.

According to a global survey of more than 1,400 online retail executives with more than $30 million in annual revenue and 250 employees, acquiring new customers is their top goal, rather than driving repeat purchases from existing customers. Notably, e-commerce research shows that it is much easier to convert shoppers to repeat purchases than first-time purchases, suggesting that marketers may find it easier to achieve secondary goals rather than primary ones.

In addition to user acquisition and retention, marketers are also concerned about increasing average transaction price/shopping cart value and driving user stickiness. Activating dormant customers is the least important issue among all respondents; but it is the second most important issue for respondents in the Asia-Pacific region.

To achieve these goals, e-commerce marketers are spending more on paid social marketing/advertising (69%), programmatic advertising (65%), paid search (65%), email marketing (63%), and in-app marketing/push notifications (63%), according to the report. At least half of respondents also increased their investments in a wide range of other channels, from influencer marketing to print and outdoor advertising.

Among the marketing strategies, e-commerce companies most often offer discounts/sales (60%), product reviews (60%), fast checkout (55%), and personalization (54%).

When it comes to personalization, 7 in 10 respondents are investing more in collecting and leveraging data. The most common types of personalization data are purchase history, behavioral data, channel engagement, and demographic attributes.

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