What percent of business is repeat customers?

Although benchmarks vary from company to company, most ecommerce businesses have 25-30\% percent returning customers. This is backed up by Alex Schultz, VP of Growth at Facebook who says, “If you can get 20-30\% of customers coming back every month and making a purchase from your store, you should do pretty well”.

What is the average percentage of repeat customers?

What’s the average repeat purchase rate? Average repeat purchase rates for ecommerce companies fall between 20 to 40\% in most studies.

What percentage of new business comes from existing customers?

After all, 65\% of a company’s business comes from existing customers, according to the Customer Service Institute. That being said, no two customers are alike, which means your marketing strategy should address each stage of the customer lifecycle – discover, explore, buy, and engage.

Are repeat customers more profitable?

1. Repeat customers spend more money. With the profitability of your business in mind, you can encourage your new customers to keep coming back by enticing them with great deals. In addition, the more often repeat customers convert, the higher their average order value compared to first-time customers.

What is the probability of selling to an existing customer?

70\%
The probability of selling to an existing customer is 60 – 70\%, while the probability of selling to a new prospect is 5-20\%. Existing customers are 50\% more likely to try new products and spend 31\% more, when compared to new customers.

What percent of customers will a company lose each year?

61\% of retail companies cite customer retention as their biggest challenge. The average American company will lose 23\% to 30\% of its customer each year due to a lack of customer loyalty. 9\% of businesses lose customers to the competition when they don’t take customer retention seriously.