Humans are, by nature, nosy - we want to know what others are doing and how that compares to us. This can be seen as an evolutionary trait, enabling us to learn from those around us and use those lessons to adapt what we are doing to survive.
Which is exactly why being nosey, or should we say “constantly curious” is good for business. It is important for any company to know both what your industry is doing and how you compare.
With this in mind, we have provided a window into the one of the largest ecommerce sectors - the Fashion industry. Worth €400 billion in Europe alone, it is definitely one to watch.
Our report, which is built using our own data and analyzes over 241 million consumer visits, looks at the key KPI’s for Europe and five individual European territories: the Nordics, France, Spain, Germany and the UK.
- Conversion rate
- Average basket size
- Average order value
- Bounce rate
In this report we have found that the European fashion ecommerce industry is still an industry experiencing a period of extensive growth. This has been highlighted particularly by the European averages which saw increases in, revenue (16.7%), traffic (18.4%), conversion (5.7%), average basket size (2.8%) and a slight decrease in bounce rate (-0.8%).
Though there are pockets of negligible country specific decreases in some areas, these generally positive trends confirm that this an area of the digital sphere that continues
We have also seen that mobile is, almost across the board, seeing huge increases in both activity and profitability and is now a key contributor to European growth. This is explicit in the changes we have seen in both European mobile traffic (+10%) and also conversion (+25%). This indicates that at last mobile users are actually buying, and not just browsing, thanks to efforts and investments merchants have made in this area.
Finally, we have seen extensive growth in the emerging markets, particularly France, Spain and Germany. Germany for example, saw massive growth in revenue (+28%), Spain saw large increases in traffic (+25%), and France saw the largest growth in average order value (+7%). The tendency of these areas to dominate, in terms of growth, can be seen as an effort to catch up with the market leaders, who have plateaued slightly and are now only capable of more steady increases.
You can also find the highlights of our findings in the infographic below!
So, there we have it - just a snapshot of some of the key changes the fashion industry has seen in the past year! Want to know exactly how your country compares and how to improve these key metrics? Then download the report in full by clicking the image below...