Across retail e-commerce categories, online orders have increased 9% YoY just this past week, compared to the previous timeframe last year. From November 9th to 16th, digital marketing agency NetElixir has noticed a promising spike in online sales that seems to be just the beginning of a boom of online demand.
This past week alone,
- Online orders have increased 9% YoY across retail categories.
- Website visits have increased by about 2% YoY, while AOV is up over 10% YoY.
- Food and gourmet is seeing the biggest YoY growth by 21%, followed by the beauty and gifting retail categories at +17% YoY, apparel at +3% YoY, and consumer electronics at +2% YoY.
NetElixir saw a marked lift in online sales trends starting around November 10th — after both the midterm election results and announcements that the rate of inflation is slowing. Both factors could contribute to consumers feeling more confident about this holiday season and showing their festive spirit through online shopping. NetElixir correctly anticipated the possibility of an online sales spike once the holiday season gets more underway, as this year can be regarded as the first “normal” post-pandemic holiday season. What was once a possibility is now a reality.
“This is probably the brightest news I can share with all of you ahead of the holiday season and as we prepare for the all-important holiday weekend. I believe this spike augurs extremely well for the remainder of the season,” says Udayan Bose, Founder and CEO of NetElixir. “The online growth trend we are seeing is a very strong entry to the holiday weekend of Cyber 5 and offers tremendous opportunities for marketers to capture their share of consumer demand.”
Now may be the time for marketers to ramp up their promotional efforts, especially in alignment with NetElixir’s 2022 holiday e-commerce sales forecast calendar. However, Bose stresses the importance of maintaining a close eye on customer shopping trends.
“Keep a tab on your consumer behavior as it seems to be changing at warp speed!,” Bose says.
NetElixir has been accurately tracking holiday e-commerce sales forecasts for 10+ years. The agency leveraged its proprietary customer analytics technology, LXRInsights, to track and analyze real-time data, including tens of thousands of customer touchpoints. The team then utilized a proprietary forecasting model to convert the data into predictions. Data collection spanned seven e-commerce categories (including apparel, home furnishings, beauty, and more) that track mobile and desktop data, broken down by state, website orders and revenue, AOV, first purchase latency, and repeat purchase latency.
