Global online fashion sales up 34% y-o-y: Report
04 Jun 20 2 min read
Consumers, however, are cutting back on the amount they are willing to spend per order with the average order value (AOV) down 4 per cent globally year-over-year, according to the data from Nosto, the AI-powered commerce experience platform. The analysis covers the US and specific countries in Europe, as well as Australia and New Zealand.
The report titled 'Effects of the Covid-19 Outbreak on Fashion, Apparel, and Accessory Ecommerce' shows that with most brick and mortar fashion stores closed and only gradually beginning to re-open with social distancing, traffic to online fashion stores is up 13 per cent year-over-year. Online shoppers are also more committed to making a purchase when they visit a fashion ecommerce store, with conversion rates 16 per cent higher than last year.
For its latest report, Nosto tracked the performance of online retailers within fashion, apparel and accessories sectors between March 1 and May 26. The sample consisted of 271 merchants that use the Nosto platform in the US, UK, Germany, France, Sweden, Australia and New Zealand and represent a good cross-section of the fashion, apparel & accessory industry as a whole. This 2020 data was then compared with the same time period in 2019.
“Looking back at the overall performance of fashion ecommerce since early March, we have seen dramatic drops with sales down 32 per cent and traffic down 24 per cent at their lowest on March 20th. Since then, the numbers rebounded up in April and are appearing to be levelling off to a new normal after some fluctuation,” said global head of Marketing at Nosto, Matthew Levin.
"Average order value continues to be down year-over-year and seems like it will remain there. Conversion Rate has continued to stay up year-over-year and has definitely reached a plateau for now," states the report.
Fibre2Fashion News Desk (RKS)
Popular News
|
Germany's BASF offers sustainable polyamides for textile industry |
|
US trade bodies against tariff hike on apparels from 5 countries |
|
Vietnam’s textile & apparel sector sees FDI revival: Reports |
|
Bangladesh mulls VAT exemption for recycled fibre industry |
|
China’s textile & garment exports see modest growth in Jan-Mar 2024 |
|
US cotton exports jump 79% week-on-week: USDA |