WorldWide Market Tracker- Insights and Updates
Here at ChannelSight, we are uniquely positioned to track eCommerce changes during these testing times. In order to provide a representation of the latest trends in online shopping, we introduced our Market Tracker. On this tracker, we have been tracking global traffic and revenue performance for the last 3 months. We have over 1000 active retail partners across countries that enable us to measure and present the global trends in the eCommerce ecosystem.
As a result of the pandemic, countries one by one entered varying states of lockdown restrictions early in March. During the past few months, we saw increases in online sales for categories such as grocery, consumer electronics (especially work from home equipment ), and home improvement. With the current scenario and changes in the lockdown implementations, it will be really interesting to see what the coming months have in store for eCommerce. We summarise the insights from the market tracker as well as present some interesting consumer trends we saw below.
Insights and Summary from Market Tracker:
- Since February 2020 we have seen an enormous increase in online traffic and sales across Europe and America
- We saw that countries like the UK, USA and France were the key leaders of growth during this period.
- Germany has performed consistently well, as it’s older demographic became more familiar with online shopping and fulfilment.
- As lockdown restrictions started to be implemented and habits shifted, traffic & sales performance peaked in April and continued well into May
- Most markets started to see a decline in online sales since the beginning of June as lockdown restrictions were eased
Consumer Shopping Trends:
- On weekdays (Monday to Friday) we saw an increase of 80% to 100% in traffic and revenue generated
- During the lockdown, people browsed more online. However, when they did purchase something they also purchased baskets with more items than before. This is linked to slower fulfilment times.
- This change in behaviour is reflected in the Food & Beverages industry. For F&B, traffic increased by more than 150% vs before lockdown, whereas revenue generated increased by more than 300%
Going forward, we will send you monthly updates on how the markets are performing post-COVID-19 restrictions. As we are likely to settle into a new normal way of living, we will focus on Year on Year (YoY) performance analysis of each market. Signup to our Market Tracker here to receive the monthly insights.
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