We have seen a UK ecommerce boom with some retailers seeing their highest levels of growth since the beginning of the Covid-19 crisis, driven in part by sales in the fashion industry according to Emarsys.
Amid concerns from the Office for Budget Responsibility (OBR) that the UK economy is likely to shrink by 35% this spring and 13% for 2020 as a whole, ecommerce is showing battling resilience against the overall declining economic trend, growing at 83% year on year in the last two weeks — the highest growth since the outbreak of coronavirus.
A large part of ecommerce’s most recent success is down to resilient consumer spending within the fashion industry, which grew by 86% year on year over the past two weeks — with footwear products seeing significant growth.
These online trends were identified by Covid-19 Commerce Insight, a joint project between leading customer engagement platform provider Emarsys and data analytics provider GoodData showing the impact the impact of Covid-19 on consumer confidence.
“We all saw the worrying news from both the OBR and the IMF about the economic impact coronavirus is having on national and global economies.
Ecommerce is now more important than it has ever been — both from a business point of view to mitigate cashflow issues and from a consumer point of view to get access to goods and services. The more businesses now look to bolster ecommerce, the more we can offset what is a terrible situation.”
– Alex Timlin, senior vice president of verticals, Emarsys
The tool used by Emarsys to identify these trends draws on more than a billion engagements and 400 million transactions in 120 countries, providing a global and regional picture of ecommerce activity and trends — a key indicator of overall economic conditions in these unprecedented times.
Key insights from Covid-19 Commerce Insight include how the pandemic is affecting the number of online consumer transactions, order numbers, the average order value, types of items purchased and more — in any industry and region in the world — in context of the extraordinary measures taken by governments globally.