THE HIVE NZ’S STATISTISCS LIKE AUDIENCE INSIGHTS AND CONVERSION RATE CAN HELP YOU DECIDE HOW YOUR BUSINESS WILL FIT IN SELLING PRODUCTS/SERVICES ON OUR MARKETPLACE.
As important as our statistics like audience insights and conversion rate are, we HAVE to add a DISCLAIMER;
Our data below comes from the whole website, the marketplace as a whole. We have HUNDREDS of vendors selling their goods and services on our website. We cannot guarantee any results. Your results as a vendor might vary based on your products, your aim for your Hive store, the phase your business is in as well as the quality of your work and effort you put in.
We can wholeheartedly say our Royal Bee vendors see better results (compared to vendors on our FREE Bumble Bee plan) in their conversion rate as well as reaching our audience, as they get boosts along the way with all our perks as well as; they generally invest more energy into knowing how to best leverage our marketplace for their business.
The conversion rate for an Ecommerce website like our marketplace is generally calculated as the percentage of people who visit the website AND make a purchase.
For a website with a predominantly New Zealand audience, the average conversion rate, in NZ, sits around 2-3%
A underachieving Ecommerce website in New Zealand will have a conversion rate of about 0-2%.
A good Ecommerce website in New Zealand will have a conversion rate anywhere between 2 and 3%.
An Ecommerce website in New Zealand with a conversion rate of anything higher than 5%, is truly stellar.
Conversion rates for individual vendors might vary.
For example; one of our most successful and long term vendors’ stores in 2024 had a conversion rate of 21.22% from their store page visits. Their best selling product in 2024 had a conversion rate of 7.44%. We – obviously – cannot guarantee this for all of our vendors. This vendor in has worked very hard on their product pages and SEO* to get those results and reap the rewards.
As for many other businesses, 2024 was a tough year for our business as well; it was time to batten down the hatches and ride out a storm we’re still all in the middle of!
To say we feel very lucky to have made it through so far AND still have some pretty good results, considering, is an understatement. Our focus has always been on organic traffic and reaching our ideal audience without a heavy focus on ads.
This year this became even more important. Which meant more work was put in attracting our audience through work on SEO*. Also, educating our vendors on how to maximise their potential on their store pages as well as with their products.
We aim to really hone in on the sharing of vital information to grow any business online, in this financial climate.
Looking for other data? Please feel free to get in touch!
*SEO: Search Engine Optimization – different techniques to improve the visibility (results) of your online content, on search engines.
sources for fact checking: cvr source 1 | cvr source 2 |
