Retail Insight of the Month – March 2018
According to Hitwise data, March has seen a much welcomed increase in visits compared to last year. Yearly growth has remained steady for March at 7.14% as it did for February at 7.06%.
With Easter falling in March this year, the festive occasion wasn’t enough to offset the decline in the visits for some categories. However, the Food & Drink (+20.58%), Consumer Electronics (+12.18%) and House & Garden (+10.87%) are showing growth and have benefitted from the festivities.
The “Beast from the East” affected retail sales negatively and did not translate to a noticeable spike in online conversions in March. A key lesson is the importance of weather and considering customer needs when creating promotional campaigns to encourage online purchases.
Average conversion rate = Proportion of visits that lead to a purchase, calculated as a simple average across 30 leading retail sites.
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