Wolfgang Digital, the award-winning Irish performance digital marketing agency, has analysed over 38 million website sessions and over €127 million euro in online revenue over the past 9 weeks in order to compile a comprehensive report of online economic activity.
Over the last decade e-commerce sales have grown share to 14% of overall retail sales. In the last month the volume of those e-commerce sales has trebled. The dramatic increase in online demand has created significant logistical challenges for retailers.
They will continue to monitor activity in the online economy and will release a weekly report which will cover same throughout the Covid-19 crisis. Please link to the full report here.
Wolfgang Digital’s CEO Alan Coleman commented on the findings of their research. “Over the last decade e-commerce sales have grown share to 14% of overall retail sales. In the last month the volume of those e-commerce sales has trebled. The dramatic increase in online demand has created significant logistical challenges for retailers. When you set that increased demand against the backdrop of health and safety restrictions you can see retailers are under massive pressure to service their customers. The pressure is most pronounced on multi-channel retailers who are dealing with massive upsurges in online demand from shoppers who would have previously popped into a shop”.
Overall traffic is up 19% against pre-coronavirus levels and it is actually the largest traffic figure we have seen, increasing 10% on the previous week. In addition to the traffic volume increasing the share of new traffic has increased by 4% week on week illustrating new traffic is growing faster than returning traffic.
Overall online revenues are up 14% compared with the pre-coronavirus crisis average. This figure is down marginally on the previous week’s high which was a 15% increase. This decrease is a result of supply side factors in online retail.
April week 1 saw a 40% increase in traffic on pre-covid levels for online retailers. This is trending upwards having been up 32% the previous week.
Last week’s traffic was down 74% on pre-covid-19 levels. Last week’s online revenue was a miniscule 3% of the February weekly average. Trending down.
For the full report, please see here.