Home / Knowledge / News / Information Technology / US Feb retail revenue grows merely 0.7% - Euclid
US Feb retail revenue grows merely 0.7% - Euclid
07
Mar '14
Euclid, the leader of in-store retail analytics, releases its monthly retail benchmarks report to analyze shopper activity and behavior during the month of February. This month’s report measured data from tens of millions of domestic shopping sessions to reveal that shopper activity cooled off in February as a result of extremely cold weather across the country.
 
Based on the findings, Euclid asserts that these metrics illustrate a weak outlook for industry revenues, estimating general merchandise, apparel, furniture and other (GAFO) retail sales grew by a modest 0.7 percent year-over-year.
 
Overall, retailers did well to keep shoppers engaged in physical stores during a month that typically sees less interest in robust browsing, yet consumers kept nonessential trips to a minimum during spells of cold weather.
 
Here are some of Euclid’s top findings in this month’s report around standard traffic metrics:
-Shopper traffic declined three percent compared to the same month last year, as visits were negatively impacted cold weather and storms across much of the country for the majority of the month.
-Storefront conversion was up nearly one percent as a result of the heavily promotional environment and depressed outside activity.
-Bounce rate increased two percent from last year as more shopping trips were quick and focused, but overall shopping session duration was in line with 2013. 
 
Shoppers also behaved differently around February’s two holidays: Presidents’ Day and Valentine’s Day. The best shopping day of the month was Monday February 24th, which saw the best in-store shopper engagement – average duration was greater than 25 minutes. The worst day of the month was Wednesday the 19th, which saw a significant slowdown in activity following the long Presidents’ Day holiday weekend and was plagued by particularly low storefront conversion and a high bounce rate.
 
Valentine’s Day did not have nearly the positive impact on shopping activity this year compared to last year. Cold, stormy weather and the growing ease of online fulfillment drove an increasing amount of Valentine’s Day related shopping to online e-tailers and away from the physical store, resulting in 10 percent less store traffic year-over-year for the week preceding the holiday.
 
About Euclid 
Euclid provides answers and insights to brick and mortar retailers in the same way that web analytics services do for e-commerce. Euclid helps retailers quantify offline impact of marketing, optimize store performance, and understand customer behavior. As of January 2014 Euclid's network has grown to capture six billion measurements per day, analyzing 250 million potential shopping sessions per year across thousands of locations. Only anonymous, non-personal data is ever collected and only aggregated trend data is used for analysis.
 

Euclid


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 26th Nov 2020

Bangladesh wants duty-free entry of 42 products into Nepal

Bangladesh has sought duty-free entry of 42 products, including...

Pic: Shutterstock

Textiles | On 26th Nov 2020

Curbs on exports to China may cripple Oz wool industry

The Australian wool industry may witness a crippling effect of...

Pic: Shutterstock

Retail | On 26th Nov 2020

BRC hails UK govt decision to open all retail after Dec 2

In response to Prime Minister Boris Johnson's announcement that all...

Interviews View All

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Mehul Vithalani,

Mehul Vithalani

Gopi Knitts is one of the most celebrated manufacturers and suppliers of...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search