The impact of Covid-19 on eCommerce is well documented with the gains being made in online purchases said to have accelerated the industry development by four to six years in just the last few months, according to Adobe.
This growth has been propped up by statics that have come from multiple angles. Online sales were also found to surge from 30.8% of all retail sales in April to 33.4% in May, and online-only retailers grew 24.3% in the three months to May. These results in May were also underlined by the fact total online spending in May hit $82.5 billion resulting in a 77% year-on-year growth.
Cloud.IQ statistics on Covid-19
In analysing and identifying data on its own platform, Cloud.IQ identified statistics that clearly highlighted the important role of eCommerce throughout lockdown as the public relied on online purchases to fulfil their needs.
Firstly, data from the dashboard found that there was a 75% increase in average weekly sales since the start of the lockdown period as of the beginning of June. Industries such as home and garden, and health and beauty thrived throughout this period.
There was also a traffic increase of 46% throughout lockdown as of the beginning of June with reliance on online increasing dramatically. This underlines the dramatic shift to online stores that took place when physical stores were subject to closure.
Finally, revenue was found to have increased by 43% since the beginning of the lockdown period as of the beginning of June. This is as a result of a number factor coming together - reliance on online, consumer demand, and of course the lockdown itself. Such was the surge in online shopping, the Covid-19 pandemic is expected to add £5.3bn to UK eCommerce sales this year, to reach a total of £78.9 billion.
The importance of analytics and a dashboard update
The utilisation of analytics in eCommerce is now fundamental to gaining insight into how successful the deployment of campaigns have been and is ultimately part of a wider trend across the industry.
Think With Google reports that nearly 7 in 10 leading marketers say their companies use data to support decision-making at all levels underlining the growing importance of its use across all industries.
In recognising the importance of analytics, such as the statistics found above, Cloud.IQ has moved to update the dashboard in a move that will accelerate a programme of data visualisation improvements. This will help build on the insight capabilities and ability to view real-time eCommerce metrics.
Upon login, merchants will notice the cosmetic changes made to the dashboard which provides more clarity over campaigns performance. There will also be changes to the technology Cloud.IQ is using to build the dashboards in the first place.
These changes will allow you to better reflect on the successes of your remarketing campaigns, how customers navigate your site and move down the purchase funnel, what products are the most popular, what products are the most abandoned, and a better understanding of who your customers are.
To learn how you can utilise cutting-edge analytics to help see your business soar, click here and trial Cloud.IQ’s platform that has helped businesses drive revenue and create loyal customers.