Sometimes, in retail, it seems as though every sunbeam has a stormy lining. The Office for National Statistics (ONS) recently released figures for the home furnishing sector, showing a 3.1% year-on-year sales growth – and you’d have thought that would be cause for celebration. But, as the ONS giveth, so the ONS taketh away, because they also revealed that prices fell by 2%, resulting in total spend dropping by 0.3%.
It’s no surprise. You can perfect your offering, refine your customer experience and fine-tune your marketing, but customers continue to wait for the sales before they shop. And digital’s no magic bullet, because it makes hunting around for savings via affiliate vouchers, price comparison sites and clearance resellers easier than ever before.
That’s where referrals come in. If you want to drive increased sales outside of THE SALES, there’s no better way to grab a prospective customer’s eye than a recommendation from someone they trust. No wonder the average order values from our clients’ referred-in customers are consistently greater than those from their direct ecommerce customers. And nowhere is this variance in AOV greater than in the home furnishing sector, where referred-in customers spend 63% more than traditionally acquired customers.
Now, unlike the ONS, we’re not burying bad news under a feel-good headline. In fact, the positives for referral within the home furnishing sector extend way beyond greater basket sizes, with referred-in customers:
- Converting 35% of the time
- Being 3x more likely to shop again
- Costing 50-80% less to acquire
If you’d like us to walk you through these numbers in more detail, or if you’s like to learn how our easily integrated referral platform can transform the economics of your business, just drop us a line
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