Despite a 28 per cent drop in quarterly online sales YoY (year on year), the eCommerce sector is 11 per cent up on pre-pandemic, indicating the online retail market is stabilising and consolidating growth from the volatile peaks after the volatile peaks of the pandemic. That’s according to analysts from Mention Me, which tracks online sales and referrals. The platform’s Retail Insights team compared data trends since 2020 across key sectors to identify long-term trends in the market.
The platform’s Retail Insights team compared data trends since 2020 across key sectors to identify long-term trends in the market.
Beauty sector leads post-pandemic eCommerce growth
Beauty is the top performing sector compared to pre-pandemic levels, up 26 per cent from Q1 2020.
Online food & drink sales, one of the biggest growth sectors during the pandemic, has held onto its gains up 20 per cent.
Meanwhile, home & garden was up 9 per cent, similarly suggesting a permanent shift to online even for bigger ticket items.
Interestingly fashion, normally a bellwether for the sector, was down -5.3 per cent. However, conversions from referrals (purchase rate) increased by 4 per cent, suggesting online shoppers are more reliant on suggestions from friends and family when not shopping in-store.
Simon Dring, Head of Retail Insights at Mention Me, said “Our figures suggest the market is stabilising after being rocked by volatility over the past two years.. The eCommerce market is significantly bigger today than at the start of 2020; lockdown has permanently shifted both consumer habits and how brands operate and build advocacy.”
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