COVID-19 : What’s happening to e-commerce?

15/04/2020

Coronavirus has created restrictions that impact professional and personal lives. These disruptions in our daily lives are already having significant effects in e-commerce.

E-COMMERCE TRENDS IN THE FACE OF THE CORONAVIRUS

Contentsquare has managed to analyse 1.8 billion user sessions and 50 million transactions on 1,400 websites worldwide. From February 16th to February 23rd 2020, comparisons were made between: conversion rates, number of transactions, number of visits, duration of sessions, etc.

The goal is to understand the purchasing behavior of consumers during this period and understanding where the future of fashion is headed.

The figures in retail fashion speak for themselves:

Worldwide, the increase in ecommerce conversion rate is +7.3%, even though, the number of visits remained stable. Moreover, consumers spent +13.9% more time surfing on fashion e-commerce sites.

On a global scale, these increases were mostly experienced in the lingerie sector with a +35.1% increase in the number of transactions. The same is observed in the PAP sector with +25.3%, and +18.2% of transactions in the footwear sector, during this period.

HOW TO INCREASE ECOMMERCE CONVERSION RATES OVER THE LONG TERM?

This study was carried out before most of the confinement and decision making on sanitary measures took place. Today, confinement has become widespread around the world, giving your customers much more time than usual. This extra time is generally dedicated to browsing your ecommerce sites, whether web or mobile. Therefore, customer experience must be optimized through an ecommerce solution.

And Fitle will help you increase ecommerce sales. How to increase ecommerce sales you ask? Or better yet: How to reduce returns in ecommerce? While browsing on your site, for their first outfit they’ll be able to wear post confinement, your customers will feel reassured when recommended THE right size. They will feel that they are understood and listened to. Helping with clothing size and fit advice is our secret on how we help you reduce ecommerce returns. We define our e-commerce tool as the "digitalization of changing rooms". Basically, Fitle embodies the (absent) sales advisor during online purchases. Understanding customers means satisfying their needs, and thus achieving customer retention.

Why is this important? Because innovative ecommerce means that the % of your e-shoppers abandoning their cart is reduced. This sizing solution also means that they now feel acquainted and can rely on your brand, and therefore will come back. Thanks to our size recommendation tool, we reduce the shopping cart abandonment rate by approximately -7.5%, thus, multiplying your conversion rate by x4. In fact, we list this data, as well as other metrics in our dashboard, in order to help you understand your e-commerce metrics and your customers’ behaviour.

Fitle, through its digitised fit assistant, giving size advice, will boost your customers experience, as well as, your conversion rates, every day.

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