Online visits to the UK retail industry declined by -2.6% YOY in July, which was a slight improvement from the -2.9% drop in June. This is a far cry from the double-digit growth this time last year. However, there is a silver lining when we dig deeper.
Conversion Rates Continue To Grow
The average across 30 top retailers reached 3.0% (visit-to-purchase rate), compared to 2.9% last year. Although small in percentage terms, this increase equated to an additional 9 million transactions across the 30 top retailer sites. The largest contributor of this yearly rise was Amazon, thanks to their record-breaking Prime Day falling on 15-16 July this year. Hitwise data also shows that this mid-year sale produced a halo effect, as several retailers like Curry’s and Etsy saw a spike in transactions over the same week. See our UK Prime Day Blog for more.
Shifting Online Visits
Additionally, sub-industries which benefit from growing consumer trends have also risen. Online visits to experience days and experience gift sites increased by +5.7% YOY (read our Experience Report to discover more). Visits to the top 50 fast fashion sites declined by -8.1% in June-July, but the top 50 premium fashion sites grew +3.1% (learn more stats in our Fashion Masterclass). These shifts show that consumers aren’t necessarily spending less on clothing and accessories. Instead, where and how they spend their time and money is changing, as sustainable retail and experiences become more mainstream.
Macro headlines can be a cause for concern, but businesses need to look deeper at specific audiences and sub-industries. July’s performance shows that there are many businesses that are still growing exceptionally online, particularly ones that adapt to rising trends and interests.