Signs of the green shoots of recovery for retailers were revealed in the latest data from the Covid-19 Retail Pulse from BounceX (soon to be Wunderkind), with week-on-week rises in website revenue, site visits and conversions.
Website revenues – which plunged on 23 March, the day the UK went into lockdown, by -37% – has seen steady improvement, rising by 57% since the strict social distancing measures were first introduced. Week-on-week revenue performance has also risen sharply, up 20%, from the period between 27 April – 04 May.
Online fashion checkouts for single brands increased significantly in April, up 64%, according to True Fit, while online fashion revenues rose 28% month-on-month, between the period of 04 April – 04 May 2020 and digital revenues across luxury increased significantly, up 59% month-on-month, for the same period, according to the Retail Pulse data from Within, a global digital marketing and advertising consultancy.
Web traffic rose by 7% week-on-week, while conversion rates were also up 20% on the previous week, according to BounceX’s data. The continuing rise of online conversions, BounceX suggests, is due to consumers purchasing non-food items exclusively online as stores remain closed, as well as the digital acceleration of retailers moving online or reopening their ecommerce operations. It also signalled a move from digital window shopping to consumers browsing with buying intent online, perhaps buoyed by the prevalence of discounting by UK retailers.
Rob Delijani, Senior Director of Growth Strategy at BounceX EMEA, commented: “Whilst there has been some stabilisation in ecommerce generally, with more retailers either moving operations online or, in the case of Quiz, Schuh and Next for example, reopening digital channels with improved safety measure for staff in warehouses and DCs, all the key performance metrics – traffic, conversion and, most importantly revenue - are up.”
“For retailers wanting to sustain ecommerce performance – especially in the light of the potential reopening of bricks-and-mortar stores, which may be announced in the coming weeks – it will be critical to ensure online experience is maintained and optimised. By being able to identify shoppers onsite and understanding their buying intent, retailers can effectively personalise online shopping experiences to enhance CX, sustain conversions and drive sales,” he concluded.