According to a report by e-commerce provider Visualsoft, the fashion industry saw a significant boost in online sales during the week leading up to Christmas. In December 2023, UK retailers experienced a 12-13% increase in online revenue, with consumers placing more orders of smaller value. Order numbers saw a 19% increase, surpassing the growth in revenue, while the average order value dropped by 5%.
The data from this report provides valuable insights into the trends and implications of Christmas 2023, which can be useful for retailers in preparing for Christmas 2024. Surprisingly, in the final week before Christmas, revenue surged by 20%, defying expectations that consumers might be worried about the timely delivery of their purchases. Visualsoft attributes this growth to the availability of guaranteed next-day delivery options, which gave consumers confidence in buying last-minute items. It also indicates a trend of consumers placing smaller orders, as evidenced by the 34% increase in order numbers.
The report highlights the dominance of mobile orders, which accounted for 57% of the revenue. The fashion and clothing sector experienced a significant growth of 39% in online orders. Practical gifts were also on the rise, with fashion items contributing to 28% of the total revenue and footwear making up 10%, experiencing a 28% year-on-year growth. Interestingly, Boxing Day emerged as the peak day for footwear sales, with retailers maximizing their communication efforts around sales. Jewelry revenue accounted for 7% of the total, registering a 15% increase.
Despite the substantial revenue growth in the last week before Christmas, there was a 25% increase in online visits, suggesting lower conversion levels. Visualsoft suggests that consumers may have been browsing online but then visited physical stores to find the desired items due to the proximity to Christmas. This finding emphasizes the importance of aligning brick-and-mortar stores with e-commerce websites. Alternatively, consumers may have been anticipating the start of Christmas sales, returning to websites in hopes of finding early bargains.
In conclusion, the Visualsoft report provides valuable insights into the e-tail growth experienced by the fashion industry in the week leading up to Christmas. Although consumers were observed to be spending less on individual orders, the overall increase in order numbers contributed to revenue growth. Mobile orders and clothing purchases were the main drivers of online sales, while footwear and jewelry also performed well. The report emphasizes the significance of both online and physical retail channels, as consumers engage in browsing and seek out the best deals during the holiday season.
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