The value of the average order placed online has surged 94% compared to the same period last year, figures from Coremetrics‘ Benchmark Survery of 150 top online retailers have revealed.
The figure represents an increase of 54% since 2007, making the effect of the recession on consumer spending last year clearly visible. The average order value decreased 20% during 2007-2008, before rising 94% from 2008 to 2009.
The number of items that are purchased per transaction has also increased significantly, from 2.7 in 2007 to 3.7 in 2009.
Coremetrics’ figures are based on data from the two weeks leading up to 7 December over each of the three years.
The Benchmark figures also reveal which days were the most popular for online shopping in the UK. Surprisingly, says Coremetrics, UK shoppers followed a similar pattern to the US 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.
“The Benchmark data reveals hard statistical information around a multitude of comparative parameters,” says Coremetrics’ Richard Shepard. “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,” he added. “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.”