Retail

Retail business down 41% between Mar 1, Apr 30: Amperity

26 May '20

1 min read

Pic: Shutterstock

Retail business was down by 41 per cent between March 1 and April 30, driven largely by store closures, according to a report by artificial intelligence-powered customer data platform Amperity, which recently said apparel, home and jewellery are the hardest-hit sectors while food and beverage and health and beauty are showing year-on-year (YoY) increases.

Financial uncertainty and job loss have driven steep declines in discretionary categories, including apparel, and heavy promotions in those categories haven't restored demand, the US-based company said in a press release.

Social media purchases are up by 85 per cent YoY, driven by record usage of social networks during the pandemic, while mobile commerce is up by 23 per cent YoY, reflecting more stay-at-home screen time and the improved user experience of brands' mobile sites and apps.

Apparel consumers are favouring comfortable home attire over fashion looks. Sleep, intimates and leggings are among the most resilient categories.

The data from the report is anonymised, pooled and aggregated performance data from around 100 retail brands across multiple verticals including fashion and apparel, footwear, health and beauty, and food and beverage.

Fibre2Fashion News Desk (DS)

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