eCommerce Buying Pattern White Paper
How does time affect e-commerce sales? When do people buy baby products? What about stamps? When should someone selling boxing gloves run ads on Twitter? We wanted the answers to all these questions, and we couldn’t find them. So we took 1 million e-commerce transactions and broke them down by time and category. Then we decided, why keep this data to ourselves? The resulting white paper is below:
Abstract: We wanted to find out whether and how time affects e-commerce sales. With social media and pay-per-click marketing, timing is very important in conversion rates. We theorized that there would be a strong correlation between time of day and day of week and transaction volumes. After analyzing approximately 1 million randomly selected e-commerce transactions, we found that they followed a Gaussian distribution throughout the day and over the course of a week. Highest volumes were on Thursday and in the early afternoon Central Standard Time. We found large differences in buying patterns for different product categories, which suggests that marketing strategies should vary by category.