Glimmer of Light - Online Retail Spending Increased in March
Online retail registered an encouraging increase in e-commerce activity in March compared to February, according to a report from Coremetrics, a provider of online marketing and business optimization solutions.
Consumers who shopped online in March purchased 12 percent more items than they did in February, while the average dollar value increased by more than 4 percent.
Year-over-year retail metrics for March remained down across the board, however. The average number of items per order, average order value and shopping cart conversion all fell significantly — 8.1 percent, 6.3 percent and 3.4 percent, respectively — compared to March 2008.
The following are additional findings from the report:
- Online health and beauty retailers were big winners in March, with the average number of items per order increasing by 6.9 percent and the average dollar value of orders increasing by 5.3 percent.
- Online jewelry retailers reported increases in the average number of items per order and the corresponding average dollar value, which rose by 13.8 percent and 13.4 percent, respectively.
- Intimate apparel retailers selling online reported flat to slightly positive results in the average number of items per order and the corresponding average dollar value, which rose by 0.2 percent and 0.3 percent respectively, while page views (1.4 percent) and average time on site (2 percent) rose slightly.
- Sports apparel and gear spending online was slightly down, with the average number of items per order decreasing by nearly 2 percent and the average dollar value of the orders dropping by 1.3 percent.
These findings are based on data from Coremetrics Benchmark, a peer-level benchmarking solution that measures online marketing results. More than 300 U.S. retailers, representing approximately $15 billion in revenues annually, contribute their analytics data to Coremetrics.