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Shoppers Spend a Recession Busting 94% More Per Order Online in 2009
Slough, United Kingdom, 16 December 2009 – As the UK continues to recover from the harshest economic recession on record, figures show that consumer confidence is on the rise this Christmas with the value of the average order placed online surging 94 percent compared to the same period last year, figures from Coremetrics Benchmark™ have revealed.
Coremetrics , the leading provider of marketing optimisation solutions, found that the value of the average online order has increased 54 percent since 2007. However, the effect of the recession on consumer spending last year is clearly visible with the average order value decreasing 20 percent during 2007-2008, before rising a massive 94 percent from 2008 to 2009.
The number of goods that are purchased per transaction has also increased significantly, from 2.7 items in 2007 to 3.7 per order in 2009.
The comprehensive Benchmark figures provided by Coremetrics measured the e-commerce data of 150 participating UK retailers including Play.com, Net-a-Porter.com and Game, across the two weeks leading up to 7th December over a three year period.
The Benchmark figures also revealed which days were the most popular for online shopping in the UK. Surprisingly, UK shoppers followed a similar pattern to the U.S. where online shopping really picks up following Thanksgiving, which falls on the fourth Thursday in November. During the last three years in the UK shoppers have chosen to spend most near the end of the week, usually on a Friday.
Richard Shepard, VP EMEA at Coremetrics, said: "The Benchmark data reveals hard statistical information around a multitude of comparative parameters. This includes information on how well online marketing, email and search work for a particular site as well as granular data on conversion rates, orders, page views, basket values etc. It gives us, and our customers when they compare themselves to the industry average as a benchmark, insight into how consumers are behaving at any given time.
“What is interesting about this year's benchmark data is how UK consumers are clearly feeling much more optimistic about the economy than last year, with the average value of an order up 94 percent in just twelve months. The recession has had a huge impact on online sales, but the Benchmark figures demonstrate that more shoppers than ever are going online in search of great deals.”
Source
These findings are based on data from Coremetrics Benchmark™, the industry’s only peer-level benchmarking solution that measures online marketing results, including commerce data, against those of the competition. More than 150 leading UK retailers, contribute their analytics data to Benchmark. All data is aggregated and anonymised. Abercrombie & Fitch, Bath & Body Works, Boden, L’Occitane en Provence, Net-a-Porter, and Office Depot are just a few of the participating companies.
Coremetrics recently enhanced Benchmark to include near-real-time data and added advanced functionality, such as sales trends by comparison period, conversion rates from Pay per Click (PPC) campaigns, and website traffic by browser type. Over the last year, Coremetrics has nearly doubled the number of companies participating in Benchmark.
Coremetrics Benchmark comes standard with Coremetrics Analytics™ for no additional cost.
About Coremetrics
Coremetrics is the leader in marketing optimisation. Its products help businesses relentlessly optimise their marketing programs to make the best offer, every time, anywhere, automatically. More than 2,000 online brands globally, transacting more than $20 billion this year, use Coremetrics’ Software as a Service (SaaS) to optimise their online marketing. Coremetrics’ solutions encompass advanced online analytics and integrated marketing optimisation applications, including search engine bid management, email targeting, ad impression attribution and cross sell recommendations to acquire customers more cost effectively, increase conversion rates, and increase lifetime customer value. Coremetrics is consistently recognised by industry analysts and thought leaders, and in 2008 was named to Deloitte’s Technology Fast 50 Program for Silicon Valley Internet, Media, Entertainment and Communications companies. The company is privately held with funding from Accel Partners, FTV Capital, Highland Capital Partners, W Capital Partners and is headquartered in San Mateo, California.
To learn more about Coremetrics, visit http://www.coremetrics.co.uk or call
+44 (0)20 3393 3450.
Coremetrics has strongly supported online privacy since its inception. To learn more, visit www.coremetrics.co.uk/company/privacy.
For more information please contact:
Steve Green / Tim Banks
Midnight Communications
Tel: 01273 697170
Email: coremetrics@midnight.co.uk
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