The future may hold far fewer and radically redesigned stores, analysts say.
The intimate apparel pure-play has increased its conversion rate by 10% through improved analysis of customer behavior.
Figleaves.com, an e-retailer of lingerie, underwear, hosiery, swimwear and activewear for men and women, has increased its conversion rate by 10% through improved analysis of customer behavior. The new 1.1% rate is a small jump over 2005’s 1%, according to Internet Retailer estimates.
The company, No. 434 in the Internet Retailer Top 500 Guide to Retail Web Sites, identified the need for converting more site searches to sales via web analytics tools from Coremetrics Inc.
“Online retailers have an advantage over well-known stores because they can be faster and more flexible to customer requirements,” says Michael Ross, co-founder of figleaves.com. “Having a deep understanding of customer behavior is imperative.”
Figleaves.com, operated by GDN Ltd., reached $7 million in sales last year, a 96% jump over 2005 sales of $3.6 million, according to Internet Retailer estimates.