June 30, 2020

New e-commerce reality

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According to insights from Klaviyo there is aftermath of Covid-19 in retail.
Across 32500 Klaviyo customers in 82 countries, sales are going up by on an average of 71.8% between March 15 and April 19 of 2020 on a weekly basis . As for consumers, more than 69% of respondents reported spending more or significantly more online than usual. It also seems that consumers are prioritizing shopping from independent retailers over third-part...y retailers and marketplaces such as Amazon. New essential categories make up nearly 40% of sales among consumers. “New essentials” describe the product categories that have become particularly aligned with consumers’ happiness and well-being during pandemic, while “classic essentials” (the basics needed for survival) take nearly 20% of sales. According to Klaviyo’s analytic data, spending for goods in many categories like apparel and accessories, electronics, home and garden, health and beauty, sporting goods skyrocketed during the lockdown period, while jewelry, automotive, home improvement increased much less levels. Global daily orders value at the end of April for health and beauty category, for instance, was about $25 million compared to $15 million two months ago (by 67%) or $10 million year-on-year (by 150%). People preferences shift to buy more products that they need to make life better right now. Experts believe that online purchasing becomes routine procedure and even after avoiding of limits consumers keep buying more goods distantly.

https://www.modernretail.co/sponsored/new-essentials-dominate-consumer-spending/

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