Benchmark KPIs in the Malaysian Furniture market
In the Malaysian Furniture eCommerce market, the present add-to-cart rate of 10.2%, coupled with a cart abandonment rate of 87.1%, and a conversion rate at 1.3% in 2023, together signify the level of user engagement, potential areas for improvement, and the success in turning interest into sales. Simultaneously, an average order value (AOV) of US$353, complemented by a discount rate of 12.7% and a return rate of 1.7% in 2023, provides insights into typical spending habits, strategic pricing influences, and responsiveness to post-purchase experiences within the Malaysian Furniture eCommerce market.
Conversion Funnel KPIs
Conversion funnel KPIs in the Malaysian Furniture market
Key performance indicators (KPIs) for the conversion funnel in the Malaysian Furniture eCommerce market include the current add-to-cart rate of 10.2%, the cart abandonment rate of 87.1%, and the conversion rate at 1.3% in 2023. These metrics highlight the path taken by users, beginning with their initial engagement (add-to-cart), potential points of improvement in the user experience (cart abandonment), and the successful conversion of interest into finalized sales (conversion rate).
Conversion funnel KPIs in the Malaysian Furniture market in 2023
Add-to-cart rate development in the Malaysian Furniture market
Currently, in the Malaysian Furniture eCommerce market for 2023, the add-to-cart rate, which indicates the proportion of users adding items to their shopping carts, is at 10.2%.
Add-to-cart rate development in the Malaysian Furniture market
Cart abandonment rate development in the Malaysian Furniture market
The cart abandonment rate reflects the proportion of users who do not finalize the purchase out of all users who add at least one item to their shopping carts. This rate is noted as 87.1% in the Malaysian Furniture eCommerce market for 2023.
Cart abandonment rate development in the Malaysian Furniture market
Conversion rate development in the Malaysian Furniture market
In the Malaysian Furniture eCommerce market during 2023, 1.3% signifies the proportion of website visitors who complete a purchase, illustrating the conversion rate.
Conversion rate development in the Malaysian Furniture market
Overview of conversion funnel KPIs in the Malaysian Furniture market
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Add-to-cart rate (in %) | 0.5 | 17.1 | 32.6 | 41.3 |
| Cart abandonment rate (in %) | 81.4 | 61.2 | 61.3 | 49.6 |
| Conversion rate (in %) | 63.0 | 57.6 | 83.2 | 23.7 |
Transactional KPIs
Transactional KPIs in the Malaysian Furniture market
The transactional KPIs in the Malaysian Furniture eCommerce market consist of an average order value (AOV) at US$353, a discount rate of 12.7% (52.3 USD/order), and return rate of 1.7% (6.1 USD/order) in 2023. These metrics provide insights into the financial dynamics of the market, revealing typical spending habits (AOV), the influence of strategic pricing through discounts (discount rate), and the market's responsiveness to post-purchase experiences, as reflected in the return rate.
Transactional KPIs in the Malaysian Furniture market in 2023
Average order value (AOV) development in the Malaysian Furniture market
The average order value (AOV) is a metric that measures the average amount of money spent by customers on each order placed. It is recorded at US$353 in the Malaysian Furniture eCommerce market in 2023.
Average order value (AOV) development in the Malaysian Furniture market
Average order value (AOV) growth in the Malaysian Furniture market
Discount rate development in the Malaysian Furniture market
In the Malaysian Furniture eCommerce market for 2023, the discount rate, which shows the percentage by which product prices are reduced, stands at 12.7%, playing a significant role in influencing consumer purchasing decisions.
Discount rate development in the Malaysian Furniture market
Average discounted value per order in the Malaysian Furniture market
Within the same year, it is possible that the discount rate increases but the discounted value per order decreases (or vice versa). This can be attributed to fluctuations in the average order value (AOV). If the average order value (AOV) decreases, the discounted value per order may also decrease, even if the discount rate increases, and vice versa.
Return rate development in the Malaysian Furniture market
The return rate measures the percentage of revenue returned after purchase, standing at 1.7% in the Malaysian Furniture eCommerce market in 2023.
Return rate development in the Malaysian Furniture market
Average returned value per order in the Malaysian Furniture market
Within the same year, it is possible that the return rate increases but the returned value per order decreases (or vice versa). This can be attributed to fluctuations in the average order value (AOV). If the average order value (AOV) decreases, the returned value per order may also decrease, even if the return rate increases, and vice versa.
Overview of transactional KPIs for the Malaysian Furniture market
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| AOV net (after deductions, in US$) | 1.0 | 0.5 | 0.4 | 0.6 |
| Discount rate (in %) | 43.3 | 43.5 | 70.4 | 79.0 |
| Return rate (in %) | 95.1 | 60.6 | 81.3 | 57.6 |
Select KPI
- Conversion Funnel KPIs
- Add-to-cart rate
- Cart abandonment rate
- Conversion rate
- Transactional KPIs
- Average order value (AOV)
- Discount rate
- Return rate