New research from digital experience analytics leader Contentsquare, has revealed how customer behavior across America is changing due to the impact of COVID-19. This analysis comes from the COVID-19 Impact on eCommerce Data Hub created by Contentsquare and is based on real-time data from over 6.5 billion sessions across more than 20 industries worldwide.
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“With the World Trade Organization talking about the possibility of a new global recession, retailers must do everything in their power to protect their brands and guide them through this difficult time. ”
Globally customers are settling into digital as their shopping norm with overall traffic and transactions growing week to week but at a slower pace than recorded in February. The U.S. findings from this week show that customers are now relying on eCommerce beyond their immediate necessities and their behaviors affect every sector including:
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● Hard hit luxury industry shows high-end is most resilient: According to this week’s data, luxury goods continue to lose their footing with US consumers. Following an initial drop-off of only 10%, transactions across the US luxury market have this week fallen by a further 20%. A distinction must be made, however, between the low and high fashion. While the majority of fashion outlets have been hit by the crisis, high fashion brands continue to perform well, remaining resilient in the face of changing eCommerce habits. In addition, hard luxury goods such as watches and jewelry saw a 23% increase in traffic week over week, with customers perhaps turning to memorable gifts for Mother’s Day and graduation.
● Retail tech sustains its move from nice to have to necessity: Retail tech has seen an increase in sales this week, with a 38% rise in transactions since the crisis began. Recent weeks have also seen a 29% increase in online traffic, which started with consumers browsing for new gaming consoles and computer hardware to keep them entertained in lockdown.
● Online grocery purchases are the new normal: Online grocery retailers continue to benefit as customers go beyond initial stockups to do more regular weekly shopping. Supermarkets saw transactions rise week to week 25% compared to 67% in previous weeks.
● Home goods and DIY peaked last week: DIY stores also seem to have had their day in the sun, welcoming only 6% more visitors compared to 24% this time last week. Online transactions across the home improvement sector have also started to slow, down from a 61% increase last week to only +20%. Given items at these stores tend to be periodic purchases, data during the next month will provide additional insight into customer behavior.
Commenting on these findings, Aimee Stone Munsell, CMO at Contentsquare said, “With the World Trade Organization talking about the possibility of a new global recession, retailers must do everything in their power to protect their brands and guide them through this difficult time.
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