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Which New Zealand Consumer Electronics online stores are maximising their market share online?
Find out which consumer electronics online stores are taking the lead in organic search and how they’re doing it. FIRST has investigated the organic search engine rankings for NZ consumer searches focused on buying consumer electronics, utilising FIRST’s Ranking Based Reach (RBR) analysis framework. In addition, a consumer survey was carried out to discover which consumer electronics stores are popular with Kiwis wishing to buy products online.
Analysed consumer electronics websites include:
* dicksmith.co.nz
* globalpc.co.nz
* harveynorman.co.nz
* jaycar.co.nz
* jbhifi.co.nz
* mightyape.co.nz
* noelleeming.co.nz
* pbtech.co.nz
* thewarehouse.co.nz
* wiseguys.co.nz
In this Consumer Electronics Industry Report we discovered:
- The performance of the consumer electronics market is forecasted to increase to a value of NZD $570.1 million by the end of 2018 (Market Line, 2014) and thus there will be a need for online search results optimisation to remain competitive among New Zealand online consumers.
- “The global wearables market (e.g. fitbit and smartwatches) will grow at a CAGR (Compound Annual Growth Rate) of 35% over the next five years, and by 2019 the enterprise wearables market will be worth $18 billion, says Gartner (IT Brief, 2015).”
- There was a dramatic increase for the search term ‘smartwatch’ among New Zealand consumers since March 2013 and has been constantly increasing over the past two years. Additionally, there was a notable uplift for the search term ‘fitbit’ among New Zealand consumers since November 2014 which points directly to the need and significance of adopting quickly and maximising search engine optimisation.
- While Dick Smith is the RBR leader, its RBR score is below 15%. Majority of the analysed consumer electronics retailers have low RBR scores. There is significant opportunity for these retailers to improve their RBR or search engine reach for important and popular keywords in organic search.
- Popular search phrases are missing from most sites and in most cases very little is being done with organic search. By improving their RBR score, they will be able to seize opportunities to boost online sales revenues.
- A considered search strategy that integrates both organic and paid search should be a key customer acquisition channel for consumer electronic online stores, driving revenue and growing the stores share of digital spend.
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FIRST uses its bespoke metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines. RBR provides a simple way to compare a website’s search engine rankings with its competitors. RBR is an estimate of the percentage of available search traffic a website will receive for a set of phrases – this gives the sites share of search or reach. It is weighted based on the popularity of each search phrase and the relative click through rate (CTR) of each ranking position.