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Retail Technology, Retail technology News

Online Valentine’s spending increases by 65% over year

Tuesday February 16 2010

Average online order value tops £150 in the run up to Valentines Day, compared to just £90 in 2009

Average online order value tops £150 in the run up to Valentines Day, compared to just £90 in 2009

 

Marketing optimisation specialist, Coremetrics has said that the average online spend in the run up to Valentine’s Day rocketed by 65%, compared to the same period of time last year.

 

Its statistics indicate a renewed optimism following the official end to the recession and increased confidence in consumer spend. The average online order in the period from 1 to 14 February came to £150.15, compared to an average of £90.73 for the same period in 2009.

 

Through Coremetrics Benchmark, the only peer-level benchmarking solution that the specialist said delivers aggregated and anonymous competitive data for industry specific key performance indicators, Coremetrics analysed the online transactions of 131 retail websites of its UK clients in the fortnight leading up to Valentine’s Day.

 

Drawing on industry visibility with positive forecast

 

Coremetrics client roster includes some of the largest names in online retail including Figleaves.com, Interflora, La Senza and Net-a-Porter.

 

“It has been an undeniably tough 18 months for the retail sector across the globe,” said Richard Sheppard, Coremetrics vice president in Europe, Middle East and Africa. “However, today’s results should bring renewed confidence to the retail sector.

 

“Consumers are looking to spend again, meaning competition to attract new clients is hotting up. Retailers need to take heed of today’s’ results and, moving forward, ensure they are targeting their audiences with the most innovative techniques that will drive traffic to their sites and ensure competitive edge of their respective rivals.”