#coronavirus • 03.04.2020

Online fashion retail sales revenue plummets by over 30 percent

New data from Nosto about online shopping in Europe and the US during the COVID-19 pandemic

A woman shopping shoes online
Source: Bildagentur PantherMedia / Andriy Popov

Online fashion, apparel and accessories retailers in the US and key European countries have seen revenues fall by over 30% year-on-year in March due to the coronavirus epidemic according to a new report. However, traffic did not drop by as much, suggesting that consumers are still prepared to browse for fashion. And there was a slight uptick in performance after the lowest point on March 20th suggesting that retailers might be reacting and adjusting in the short-term.

The data comes from Nosto, the AI-powered commerce experience platform, which tracked the performance of fashion, apparel and accessories ecommerce merchants from March 1st to 25th, 2020 and compared it with the same time period in 2019. The data is based on the performance of 271 merchants that use the Nosto platform in the UK, US, Germany, France and Sweden.

Worst performing day: March 20th

According to the analysis, visits, number of orders, and total sales across all countries started dropping noticeably around March 7th. The worst performing day was March 20th, when sales revenue overall was down 32 percent and visits were down 24 percent. Average Order Value (AOV) declined by 6 percent while conversions were down by 9 percent. On this day, US sales dropped 27 percent, but traffic only dropped by 9 percent — the largest gap between sales and traffic of any region.

“Since that low-point on March 20th, the data shows some signs of a recovery beginning – with sales revenue and visits recovering somewhat in all countries, while conversion rates are staying relatively the same,” said Matt Levin, Nosto’s Global Head of Marketing. “Increased traffic with stable conversion seems to mean these new shoppers are still buying at typical rates, which could be a result of merchants reacting with discounts and merchandising shifts, or consumer behaviour simply stabilising. As things continue to develop we'll continue to monitor what is happening.”

Ways brands connecting with their customers

Jake Chatt, Head of Brand Marketing at Nosto, has noticed a number of ways in which brands are trying to connect with their customers by shifting their messaging and strategy to align with what's going on in the world: “Having real-time updates on stock availability or current shipping times can help shoppers feel informed when everything seems so uncertain. Highlighting or showcasing products and collections that are more relevant to people's new at-home lifestyles can alleviate the stress of trying to find new items that they didn't think they'd be looking for two weeks ago. For example, leisure clothing could be something a lot of shoppers are currently looking for - or new at-home office needs. Finally, we've been seeing some brands connect with shoppers on an even more human level by setting up funds or donations for medical needs or those who have been put out of work due to the outbreak.”

Source: Nosto

related articles:

popular articles:

Thumbnail-Photo: Virtual pop-up stores
29.06.2020   #virtual reality #pop-up store

Virtual pop-up stores

Here today, change Up tomorrow

They spring up like mushrooms, only to vanish again shortly thereafter – pop-up stores are trendy and now they also increasingly “pop up” online. We spoke with Mohamed Haouache, CEO and Founder of Storefront, about the magical ...

Thumbnail-Photo: Face coverings to be mandatory in shops from 24th July...
23.07.2020   #security #brick and mortar retail

Face coverings to be mandatory in shops from 24th July

Guidance and information for retailers

The Government announced that wearing a face covering will be mandatory in shops from Friday 24th July. Penalties for not wearing a face covering will be enforced by the police, who can issue fines of up to £100 (reduced to £50 if paid ...

Thumbnail-Photo: In-store farming: growing parsley inside the supermarket...
26.06.2020   #sustainability #in-store marketing

In-store farming: growing parsley inside the supermarket

Purchasing locally grown products

One aspect of globalization means that it’s possible for consumers to buy products from anywhere on Earth. That’s also why a head of lettuce may have traveled more miles from the place it was grown to the supermarket than some salad ...

Thumbnail-Photo: Spotlight on ... customer retention
01.08.2020  

Spotlight on ... customer retention

Our current focus topic: Which measures help you to retain customers?

Im Versand wie im Verkauf - mit Verpackungen hat der Einzelhändler tagtäglich zu tun. Doch was macht eine gute Verpackung aus? Welche Vorschriften müssen Einzelhändler kennen? Und warum sollte eine Verpackung smart sein?Das und ...

Thumbnail-Photo: Event: E-commerce Berlin Expo 2021
28.08.2020   #online trading #e-commerce

Event: E-commerce Berlin Expo 2021

E-commerce Berlin Expo is the biggest pure-play e-commerce event in the (tech) capital city of Germany. Over 9,000 visitors and 200 exhibitors are expected every year.

E-commerce Expo views itself as a community and a meeting point for all major decision-makers in the e-commerce sector. We bring together leaders in the e-commerce industry to offer online sellers and retailers the opportunity to develop their ...

Thumbnail-Photo: Sustainability is surviving COVID-19
27.07.2020   #sustainability #coronavirus

Sustainability is surviving COVID-19

Trends and consumer demographics for sustainable products and brands

The NYU Stern Center for Sustainable Business and IRI® published the results of new research examining consumer purchases of sustainability-marketed consumer packaged goods in the US and taking a closer look at the top 10 states in terms of per ...

Thumbnail-Photo: Which businesses should be open?
17.06.2020   #brick and mortar retail #coronavirus

Which businesses should be open?

MIT study looks at tradeoffs between economic value and public health, across different types of retail

Banks and bookstores. Gyms and juice bars. Dental offices and department stores. The Covid-19 crisis has shuttered some kinds of businesses, while others have stayed open. But which places represent the best and worst tradeoffs, in terms of the ...

Thumbnail-Photo: Retailers say credit insurance plan could increase liquidity during...
15.07.2020   #retail #coronavirus

Retailers say credit insurance plan could increase liquidity during pandemic downturn

Backstop for trade credit insurance

The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on ...

Thumbnail-Photo: Retail & Brand Experience World Congress 2020...
06.07.2020   #e-commerce #retail

Retail & Brand Experience World Congress 2020

A unique edition for an unusual context

Since the global pandemic is still impacting our daily lives, the Retail&Brand team and Fira de Barcelona are finding a new way to reconnect all the industry actors and rebuild ecosystems to accelerate recovery. This year we are transforming ...

Thumbnail-Photo: Come together: local retailers connect with local customers...
15.09.2020   #brick and mortar retail #customer relationship management

Come together: local retailers connect with local customers

The online platform Ladenfreun.de connects local retailers with potential customers. The common denominator: A product.

How can you bridge the gap and connect online retail to pedestrian zones? A Nuremberg startup wondered how this could be accomplished and came up with a solution: Ladenfreun.de. In this interview, founder Matthias Hueber talks about the idea behind ...