Some interesting findings from our data analysts.
As we monitor consumer behavior within the fashion industry across the UK, it is clear that the length and severity of the lockdown has resulted in a permanent channel shift to online purchasing.
Since stores opened on 12th April (Week 15) and then post the UK opening up on 17th May (Week 20), the data suggests a permanent shift of in-store customers to online, worth around 30% YoY growth to online. This shift will take most “bricks and mortar” fashion retailers who were typically around the 30/70 (online/in-store) mark to more like a 40/60 or 50/50 split.
In terms of what people are buying, jeans and tops are surging. However, dress volumes are only slowly creeping back up to 2019 levels and with more of a focus on highlight dresses than occasionwear.
Benefits of the Online Shift
On the plus side, there are lots of benefits from this shift to online. One of which is having far better visibility of every visitor, every customer and every product.
Retailers can now start to know what they don’t know. There has never been more data available to know who each visitor is, what their intent is and where the missed revenue opportunities are.