Online fashion retailers experience lowest revenue since start of lockdown, data shows
Online fashion retailers in the UK have experienced their worst weekly revenue growth figures since the beginning of lockdown in March, reveals data from ecommerce expert Emarsys.
While revenue is still growing compared with this time last year, growth has slowed to just 19% in the week leading up to the 2 August — the lowest rate since the week leading up to the 22 March and the start of the lockdown:
Alex Timlin, Senior Vice President at Emarsys, said: "With fears of a second wave in Europe, consumers are clearly still nervous about spending too much and are keeping a close eye on their finances. The online fashion industry has done relatively well since the start of COVID compared with other industries, but how long that success can continue remains to be seen.
"Now, more than ever, fashion brands need to invest in digital experiences to stay ahead of the competition."
The customer retail trends were identified by COVID-19 Commerce Insight, a joint project between leading customer engagement platform provider Emarsys and data analytics provider GoodData showing the specific impact of COVID-19 on consumer confidence.