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Euclid: Retail traffic down, conversions up
Shoppers are doing more than looking in windows. That is the takeaway from new data out from Euclid Analytics. According to their May research while traffic to stores was down 11% for the month, actual store conversions increased.
Euclid's analysis indicates the May conversion increases Mother's Day had a strong impact on sales, but also notes that retailers were more promotional this May than in May of 2013, which may have driven sales higher, as well.
Some interesting takeaways from the report include:
• Total general merchandise sales increased 5% YoY
• Clothing/apparel sales increased 7% YoY
• Shopper traffic was down 11% YoY
• Time spent in-store increased 6%
• Repeat visits decreased 1%
"The best day of the month [for retailers] was Thursday [May] the 29th, with outperformance across all metrics. The worst day of the month was Sunday [May] the 4th, which saw significant underperformance in traffic. In addition, fewer than expected repeat shoppers were seen on this day," writes the company.
Looking a bit farther back, comScore data shows an overall increase in digital spending from shoppers. Through Q1 2014 comScore reports Americans spent just over $56 billion online; that is an increase of 12% year over year. Mobile commerce, meanwhile, surged to $7.3 billion, an increase of 23% YoY.
comScore chairman emeritus Gian Fulgoni said, "As we look ahead to the remainder of 2014, we hope that signs of improved consumer sentiment and a strengthening job market will help further bolster digital commerce. In addition, with several key consumer tech product upgrade cycles and new product introductions expected in the back of the year, there would appear to be continued momentum for the market throughout the year barring any unforeseen economic troubles."
Image via Shutterstock
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