Digital Natives and Chain Stores Gain Market Share While Department Stores Struggle in All-Dtc World, According to Bluecore
New Data Reveals That COVID-19 Has Expedited Consumers’ Migration from Brick-and-Mortar to Digital Sales, Signalling the 50/50 Online/Offline Shift May Be Occurring in Months, Not Years
A new report released by Bluecore shows that since the temporary closure of brick-and-mortar stores due to COVID-19, online sales have increased for department stores, chain stores and native DTC brands, as well as across the Apparel, Luxury, Beauty, Sports/Outdoors and Pharmacy verticals. Performance across a number of other KPIs reveal an accelerated shift away from brick-and-mortar retail that is likely to last beyond the pandemic. The new report, COVID-19 Retail Trends in an All-DTC World, reveals how traditional retail models are stacking up against established pure-play DTC brands during a time when their sales channels have essentially been halved.
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Bluecore’s data reveals that chain stores are seeing the highest increase in online sales (+80%) and the most significant increases in other important KPIs, when compared to department stores and digital natives. With a 119% increase in first-time buyers and 89% increase in second-time buyers, chain stores are experiencing a large-scale migration to their digital channels at an accelerated rate. Prior to COVID-19, only 15% of brick-and-mortar retailers’ sales occurred on digital channels. That number was widely expected to increase to 50% within three years. Now, it appears the transition may happen in a matter of months.
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Bluecore analyzed shopper behaviors across 70 brands’ and retailers’ ecommerce sites, spanning 115.9 million orders, $17 billion in total sales and across 42.9 million unique products. The company compared April 2020 performance to April 2019 numbers, as well as to pre-COVID numbers from February of this year. In addition to online sales, Bluecore reviewed other high-value online shopper behaviors, including products added to cart, email click-throughs, sign-ups and products viewed.
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