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Euclid: February sales less than lovely
People might have gone all out on fancy dinners, but when it comes to shopping in stores in the month of February, they were a bit more reluctant. That's the takeaway from the Euclid Benchmarks Report for February 2014. According to Euclid sales increased less than 1% for the month.
Shoppers weren't as interested in buying items in-store in the month of February, despite the advertising for Valentine's Day. According to new data out from Euclid sales for February increased only 0.7% (2014 vs 2013) despite retailers' best efforts to bring shopping into stores. Euclid's experts believe the severely cold winter has kept many shoppers from hitting retail outlets as traffic into stores decreased about 3% for the month.
Other interesting findings from the Euclid Benchmarks Report include:
• Storefront conversions increased nearly 1%
• Shopper bounce rates increased 2% (YoY)
• Shopping session times were nearly equal for 2013 vs 2014
"Valentine's Day did not have nearly the positive impact on shopping activity this year compared to last year. Cold, stormy weather and the growing ease of online fulfillment drove an increasing amount of Valentine's Day related shopping to online e-tailers and away from the physical store, resulting in 10 percent less store traffic year-over-year for the week preceding the holiday," writes the company.
February 25 was marked as the 'most engaged' shopping day with consumers spending an average of 25 minutes in-store while Wednesday, February 19 was tagged as the least engaged day. On the 19th shoppers had higher than average bounce rates and lower store conversion rates, as well.
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