Fanplayr Data Shows Retailers Are Making up Lost Sales
E-commerce intelligence experts release data proving a significant shift for retailers and consumers
Fanplayr, a leader in e-commerce intelligence, released figures that give clear insights into the adjustment consumers are making in light of significant lifestyle changes forced by the COVID-19 pandemic.
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Tracking aggregate behavior across clients’ sites, the data proves a shift from retail to online purchasing. The results are particularly dramatic in large clothing, sports and kids fashion retailers.
According to analyses of sites with over 20 million visitors per month, key indicators of e-commerce success have risen consistently and simultaneously during the period of time a particular market has been dealing with COVID-19. Visitor traffic, conversion rates and AOV (average order value) have all increased. Simultaneous increases in key indicators is rare, even during peak holiday seasons. Simon Yencken, Founder and CEO of Fanplayr states, “It demonstrates our clients are recapturing some lost revenues, namely 30 – 40%, caused by limited or no store traffic.”
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For example, the Japanese market has been dealing with COVID-19 longer than the U.S. because of their proximity to the epicenter. Over the period of time from first reports of infection to today, online key indicators have all risen.
This information is critical for retailers scrambling to make up lost profits. It demonstrates that lost revenue from shelter-in-place and school closures can be recovered from increased online sales, and the overall impact can be mitigated even more with strategies to increase closure rates of shoppers.
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