What time will your product sell? According to our ecommerce recent stats, most online transactions happen at this o’clock…
Webinterpret has recently dug into some data, curious about the time of day/night when online sellers can make big sales. Our aim has been to find out when the number of online transactions peaks. Our figures and conclusions are based on over 20,000 international online sellers trading their products on top marketplaces, including the UK, the USA, Germany, France, Spain and Italy. Our data relates to transactions that have taken place in 2015.
So what time are you most likely to sell your items?
The number of online transactions peaks at 9 pm with over 60,000 transactions being made at this time. Another time of day that we can associate with eCommerce success is around 11am.
Do our conclusions and results deviate from other similar analyses? NO. Let’s take eBates infographic as an example. The infographic presents Cyber Monday hour-by-hour from a historical perspective. The analysis was based on the USA, but observations and conclusions are applicable to sellers from other countries, including the UK and other European marketplaces.
- In 2012, Cyber Monday shopping peaked first at 11am and then at 9pm.
- In 2013, sales figures peaked first at 11am and then are around 1pm.
- In 2014 the worst time to sell products on Cyber Monday was 5pm.
The abovementioned facts can be described as the result of more or less standard working and commuting patterns. In other words, people tend to shop when at work, on their lunch breaks and when back at home in the evening.
You can find quite a few early birds among online buyers, though. One of Webinterpret’s customers sold a wrist watch for EUR 36,000 on eBay Germany as early as 7 am last Tuesday. Surprised? Surely not! For one thing, it was a watch. For another, it happened in Germany, the land whose stereotypical second name is Punctuality.
The bottom line: the early bird catches the worm, or rather the watch so you know what time you should throw bait!
… so it’s all about timing!
Use this knowledge to increase the visibility of your product at the right time. Also, remember that your 9pm may be an early afternoon in the States so always bear in mind the time difference if you want to reach global audiences. Finally, track your results to be sure what stands behind your online sales success.