The 2024 Benchmark Report

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3 key learnings

Email and SMS campaigns

Automated email flows

Quarterly trends

Learn more

THE 2024 BENCHMARK REPORT

Email and SMS performance data to guide your ecommerce marketing

Learn from benchmarks of similar businesses

In this 2024 benchmark report, we share data from the Klaviyo platform to help ecommerce marketers from verticals like fashion, beauty, health, and more.

Whether you want to understand how your current metrics stack up next to industry averages or you’re looking for inspiration on what types of emails and texts yield the highest revenue per recipient, this report is for you.

In this report, you’ll learn what “good” and “great” look like based on real 2023 results from Klaviyo, specific to your industry within retail. Plus, hear from ecommerce experts to guide your own best practices and drive more revenue and smarter digital relationships.

Data is a marketer’s best friend—particularly performance data.

Tips to use this guide

As you browse these key performance indicators (KPIs), here’s how you can get the most from this report:

Learn more about KPIs and terms in this report

Separate apples and oranges

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Prioritize what areas you want to excel

Make a concrete list for next steps

Table of contents

01

Key takeaways from 2023

Set the context with high-level takeaways based on all data.

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Email and SMS campaigns

Dive into campaign performance data for your industry.

03

Automated email flows

See both high-level and flow-specific benchmarks.

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Quarterly trends in ecommerce

Visualize how performance may—or may not—shift over the year.

Better than your average benchmark report

Want ongoing suggestions based on your performance?

Try Klaviyo’s personalized benchmarks. You’ll see how you compare to the 100 businesses most similar to yours and where you can take steps to improve.

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“Segmentation is key! The more you know your subscribers/customers, the more you'll be able to segment your database and your sendings. Don't send to your entire database because you think you'll make more money. Segment regarding RFM data, activity with your emails and website, and give them different messages.” 

“Firstly, perform regular list cleaning to ensure you’re only targeting engaged users that want to hear from you. Then, segment your subscribers into groups that have similar behaviors or interests to serve hyper-tailored content where relevant.”

“Remember that SMS is different in that it is a social tool that we normally use for 2 way communication. Set up Klaviyo auto-responses that walk customers through a simple "What's your favorite flavor" 1, 2, 3 type flow, delivering the customer via SMS to the page that houses the products they are interested in.”

You really need to make sure your SMS messages are personalized. If you're recycling your email message to SMS you're missing the boat. Make SMS conversational and personal. Ask questions and encourage a response. That might be more work for customer service but you will drive more sales and build a positive brand impression.”

“From a customer database perspective, the best indicator of whether a user will complete an action is if they've done that same action before. Therefore, make sure you ruthlessly filter those that don't click SMS out of your sends, to ensure you're targeting users who are likely to click (and shop) again.”

“You can’t pluck a flower in Southern California and expect it to grow in Alberta, Canada. In very much the same way, you can’t send the same email to two people of vastly different demographics and expect the same results. To enhance your welcome series flows, focus on detailed segments and personalized messaging based on as many profile attributes as possible. Creating one-of-a-kind messages is crucial for engaging diverse audiences. The welcome series is a key touchpoint for customers getting to know your brand in a more meaningful way.”

“To help improve open and click rates, include your offer in the subject line, and/or consider A/B testing it against a softer subject line. Consider including a letter from the founder as the first or second touchpoint in your welcome series. Send these emails in fast succession from one another, never allowing your brand to leave the subscriber's mind (or inbox) because once they go a few weeks after signing up without making a purchase, it's likely they'll never make a purchase.

“Test test test! The ability to AB test flows is critical. Test out different offers and the timing of the sequence to see what version works best for your brand.” 

"The KPIs we look for are over 30% open rates, over 3% click rates, and over 3% placed order rates. Further we would subdivide this group into people who have purchased before and those who have not."

“For brands that aren't working in fast fashion or whose product range isn't constantly changing, I would recommend adding multiple branches to their abandoned cart flow. Add as many trigger splits as you want based on that product, collection or category added to the customer's cart and offer custom content based on that product. Someone added a wool sweater to their cart? Tell them about the warm and self cleaning property of wool, as well as where you source your premium quality wool for their comfort. Someone added a pair of sandals to their cart? Display the 5 review you received from a customer who wore them everyday on their trip to Europe without getting any blisters or sore feet. I've worked a lot in customer service while I was a student and I always try to think about what I would say to these clients if I had them in front of me, in a physical store.” 

“Consider launching a subject line A/B test with 3 or more variants to help avoid sending the same SL to your audience over and over again. This is especially important when you have customers and potential buyers who do A LOT of browsing and receive the abandonment flows quite frequently. Consider adding conditional splits in this flow based on the item or item category, then message the subscriber with unique, tailored content based on what they viewed. If you're having a sale for a particular item, for example, or if a certain item is in high demand, you can reference that in the email.”

“To more mature audiences, browse abandonment flows often feel even more intrusive than cart abandonment flows—particularly when done untactfully. We believe the most considerate method to increase click rates is to show a feed of related products that spark the desire for their originally desired product. If they didn’t have a specific product in mind, they may find inspiration based on what is offered.”

“Your post-purchase flows are the time to get creative. We recommend focusing on open rates for this flow since there will not always be an applicable CTA (Call To Action) for each recipient. Don’t get discouraged by unsubscribes here, you should expect a higher rate than average – some customers just want their product and their silence. Post-purchase but pre-delivery, send short and sweet emails updating users on their package’s status along the way. Once delivered go crazy with thank you emails, instructional/care videos, feedback request forms, future product upsells, and loyalty programs. There is so much opportunity within post-purchase flows that most retailers leave on the table.” 

“Add conditional splits to this flow based on the number of orders the subscriber has placed. Give an extra special thanks to first-time customers who shopped with you for the first time. For two-time buyers, highlight opportunities for upselling and cross-selling, as well as brand benefits like a loyalty or rewards program. When you reach your VIP buyers (this'll be the 3-time buyers, or 4-time buyers, or 5-time buyers, depending on your product and industry), send out another extra special thank you from your founder and consider linking to a survey that asks the subscriber what they'd like to see from your brand. You can also split this flow based on the item or item category, to more precisely send cross-selling opportunities.”