Amperity, the first AI-powered Customer Data Platform (CDP), has debuted the first in a series of regular research reports based on data from the Retail Monitor, an online a benchmarking tool containing anonymized data from over 100 North American retail brands. The Retail Monitor was designed for business leaders, journalists, and analysts, and will be regularly updated with data and insights on an ongoing basis.
Amperity’s Retail Monitor allows users to view changes in sales, revenue, acquired customers, customer retention, product orders, and average order value (AOV) since the onset of the pandemic. Users can take this one step further by breaking down year-over-year (YoY) trends by demographic profile, geography, channel, digital medium, and device.
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Key findings from the report include:
- Retail was down 41% between March 1 and April 30, driven largely by store closures.
- Apparel, home, and jewelry are the hardest-hit sectors; food and beverage & health and beauty are showing YoY increases.
- Financial uncertainty and job loss have driven steep declines in discretionary categories like apparel, home, and jewelry. Heavy promotions in those categories haven’t restored demand.
- Social media purchases are up 85% YoY, driven by record usage of social networks during the pandemic.
- Mobile commerce is up 23% YoY, reflecting more stay-at-home screen time and the improved user experience of brands’ mobile sites and apps.
- Apparel consumers are favoring comfortable home attire over fashion looks. Sleep, intimates, and leggings are among the most resilient categories.
“Retailers are being tested with a more challenging environment than any at any other time in recent history,” said Jordan Elkind, VP of Product Marketing & Retail Advisor at Amperity. “We know the road to recovery will require a clear understanding of how consumer behavior is evolving – and how retailers can adapt their product offerings, segmentation strategy, channel mix, and promotional tactics to keep up with their customers.”
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