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Higher value e-orders from HK and China: Coremetrics

Carol Ko | Jan. 30, 2009
Visitors spent more per online transaction than the global average order value in the last holiday season.

This information further confirms that Hong Kong and China shoppers are focused buyers, but may not necessarily do a lot of shopping around during a retail Web session.

Page view per session for Hong Kong buyers were in line with the global average, even increased slightly when compared to the preceding report from March to August 2008.

This suggests that Hong Kong buyers were more efficient in utilising their time in the way that they used less time to go through the same number of pages or steps on the site. As for China visitors, there was a further drop in page views per session.

More online shopping

On a global basis, the online retail sector in general continued to give mixed signals in December 2008, showing both strengths and weaknesses, over the holiday retail shopping season.

The online retail sector did well in December 2008 with the percentage of completed purchases up by 23 per cent compared to November 2008 but down by 2.4 per cent compared to December 2007. However, the average number of items per order and average order value fell by 19 per cent and 11 per cent respectively, compared to November 2008.

This means that while more online shopping transactions were completed in December last year than in November, the average amount of money spent was down.

Successful retail categories

The retail categories that were most successful at converting online visitors into actual buyers were apparel, department stores, home, jewelry and sports apparel. Compared to November:

• Both the apparel sector and department stores saw a 33 per cent jump in the number of online sessions in which people completed an order.

• Home goods retailers saw a 46 per cent rise in the number of online sessions in which people completed an order.

• Jewellery stores reported a 32 per cent increase in the number of online sessions in which people completed an order.

• Sports apparel and gear reported by far the biggest jump, with a 66 per cent increase in the number of online sessions in which people completed an order.

Consumers can expect to see more bargains online for a while as retailers try to move the inventory they didn't sell for the holidays, added John Squire, chief strategy officer for Coremetrics. And savvy online retailers are going to invest more time and money in understanding where customers are spending, what price points they're considering and how their peer group is performing so they can better target shoppers with the combination of products and promotions that will convert them into buyers.

These findings are based on data from Coremetrics Benchmark. More than 300 leading retailers, representing about US$20 billion in revenues annually, contribute their analytics data to Benchmark. All data is aggregated and is made anonymous. Abercrombie & Fitch, L'OCCITANE, Macy's, PETCO and REI are among the participating companies.

 

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