Syte, the AI-driven product discovery platform, has released a new report looking at trends in ecommerce. Its findings come on the back of a stellar year for ecomm which has seen sales double across many sectors.
With lockdown set to ease, albeit gradually, the report finds that the challenge for fashion brands moving forward it to retain their customers amidst fierce competition.
Here’s what else you need to know from their report, entitled, “The Year That Changed Ecommerce Forever”:
- Shoppers who use on site tech such as image search and recommendation engines have a 12% higher retention rate, and their lifetime value also increases 19%, compared to other shoppers. Make sure your on-site ‘smart product discovery ‘tech is best-in-class.
- Fashion shoppers purchase 4.7 items on average – but with social activities curtailed and demand for a varied wardrobe declines, hanging onto your customers is key. Customer retention is paramount in 2021.
- 60% of fashion ecomm transactions are on mobile, 39% are on desktop. However, desktop buyers typically have a higher basket value and tend to be shoppers who have never transacted with your fashion brand before. Make sure both your desktop and mobile website versions are best-in-class and work seamlessly.
- The most popular fashion purchases in 2020: Dark wash skinny jeans: these remain a fashion staple, #1 across all categories; Matching sweatsuits: the ultimate quarantine and pandemic outfit; Leggings: lounge wear par excellence!
- The most popular jewellery purchases in 2020: Butterfly necklaces; Name necklaces; Classic sapphire necklaces
- The top two fashion ecomm trends for 2021: (1) As lockdown ends, consumers will search less and will rely again on their favoured brands, so customer retention is key. (2) Brands need to hyper-personalize their product discovery experiences.
If you’re a fashion brand looking at improving and broadening your ecommerce reach and scale, i.LEVEL has a number of solutions that can help you achieve this including numerous integrations with third party platforms such as Shopify, BigCommerce, and more.
Our latest launch is i.LEVEL Connect which allows you to turn your ecommerce website into a web platform that lets other brands sell on your site (using the dropship model of sales fulfilment). Clients using i.LEVEL Connect are seeing significant sales improvement well into double percentage figures, for very little cost and effort.
To find out more, contact us at Info AT ilevelsoftware.co.uk or call 01234 761 757 – we’d be delighted to tell you more!