#MillenniumLive , Podcast , Supply Chain
#MillenniumLive: RELEX and AI: The Right Tool for the Right Job with Dr. Madhav Durbha
As originally published by WITHIN.
WITHIN is monitoring the effects of COVID-19 on ecommerce. Using data from a sampling of clients, we are tracking year-over-year trends in ecommerce revenue, ad spend, and conversion rate relative to the pre-COVID benchmark period.
For insight into how to best weather the storm, check out our new study, “Digital strategies to get your brand through Coronavirus.”
Tuesday, March 17, 2020
The effects of the COVID-19 outbreak in the US are growing, with 4,226 documented cases as of this writing. San Francisco has ordered a shelter-in-place policy while New York City ponders doing the same. Meanwhile, for now, retail metrics seem to be leveling off.
FASHION
- From its pre-COVID trend, fashion ecommerce revenue has fallen -61.68%, up a bit from yesterday’s -63%.
- Conversion rates are down by -34%, higher than yesterday’s -46%
OMNICHANNEL
- Revenue has fallen -63.13%
- Conversion rates continued to fall, now at -16.3%.
LUXURY
- Revenue saw a little bump, up to -31% compared to yesterday’s -37.87%
- Conversion rates fell to 0.40% from yesterday’s +25.4%.
PURE-PLAY ECOMMERCE
- Revenue made a slight rebound from -46.43% to today’s -29%.
- Conversion rates are likewise slightly up at -26.5% compared to yesterday’s –32.63%.
SUBSCRIPTION & AT-HOME CONVENIENCE
- Revenue has risen by +204.3%.
- Conversion rates are up by +159.22%.
Monday, March 16, 2020
As of this writing, the number of reported COVID-19 cases has grown by 114% since yesterday. Across the country, stores, gyms, restaurants, bars, venues, movie theaters, and schools are closing their doors indefinitely. The retail world is likewise not faring well.
FASHION
- From its pre-COVID trend, fashion ecommerce revenue has fallen -63%.
- Conversion rates are down by -34%, higher than yesterday’s -46%.
OMNICHANNEL
- Revenue has fallen -57.3%.
- Conversion rates are down by -7.44%.
LUXURY
- Revenue has fallen -37.87%.
- Conversion rates are up by +25.4%, likely because they’ve pulled back ad spend which has decreased traffic. Repeat buyers and lack of new site traffic make the CvR appear higher.
PURE-PLAY ECOMMERCE
- Revenue has fallen -46.43% from its pre-COVID trend.
- Conversion rates are down by –32.63%.
SUBSCRIPTION & AT-HOME CONVENIENCE
- Revenue has risen by +204.88%.
- Conversion rates are up by an amazing +119.36%.
Friday, March 13, 2020
COVID-19 continues to spread, with 1,629 confirmed cases across the US. The economic impact is being felt across retail verticals too.
- The fashion category has been hit hard, with revenue -40.96% from where it was trending around this time in January (the baseline benchmark we’re using).
- Pure-play ecommerce growth has slowed from our last update from -14.57% on 03/10 to -35.30 from its growth trend.
- Omnichannel has declined to -41.42% from trending revenue growth.
- Subscription brands continue to grow at an incredible pace, at +127.19% from its baseline trending growth this time two months ago.
- Luxury goods continue to drop, now at -35.99%.
Go here for WITHIN’s latest updates on COVID-19’s impact on eCommerce.
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