The e-commerce sales have decreased by 2% in the third quarter of this year 2022, compared to the same period last year, according to the latest quarterly online consumer report Q3 Shopping Index 2022 published by salesforce. The number of online consumers and order volumes have also decreased, by 4 and 5% respectively. Nevertheless, Spain and Eastern Europe have broken this downward trend with an increase of 2% and 6%, respectively.
The figures reflect that the rising cost of living, political instability and supply chain constraints continue to weigh on the current global retail landscape. Given the situation, the Online sales in the third quarter in Europe fell 9% compared to the same period in 2021, with a decrease in order volume of 1%.
facing the Christmas season, it is expected that there will not be an increase in online sales compared to last year. Even so, online spending is concentrated in specific categories such as fashion, especially footwear (+18%). On the contrary, the categories of toys and education (-22%) and Home (-19%) maintained the downward trend.
The Nordic countries register the largest drop
It was in the Nordic countries where the largest drop in online sales was observed in this third quarter, specifically, 21% less, with order volume falling 12% and online traffic falling 8%, compared to the previous year.
On the other hand, online sales in United Kingdom they also registered a 13% drop compared to 2021 and the volume of orders registered an 8% decrease. Online traffic remained unchanged compared to last year.
On the contrary, in Eastern Europe, e-commerce grew 6% and order volume increased 17%, despite traffic falling 2%. This growth can be explained by the rate of increase in wages that has been observed in recent quarters in the country. Oxford Economics He expects wage growth to continue in the region, although inflation is a constant with no end in sight.
Finally, Spain continues to defy the general trend that has been observed in Europe in recent quarters. Our country registered a modest growth of around 2%, but order volume increased by 17%. Overall online traffic grew 10%, buoyed by an 11% rise in desktop visits and 10% growth via mobile.
Trends for Cyber Week 2022
Digital traffic is up 1% over the same period last year as consumers anticipate holiday shopping. Even with seasonal discounts, prices are an average of 8% above 2020, leading consumers to pay more for products today compared to two years ago, despite reductions. Behind the Prime Day 2022, discount percentages have dropped 6% globally.
“Retailers again have to play with the calendar, starting with early discounts to drive search and purchase, but consumers always keep waiting for the latest and greatest discount during seasons like Cyber Week.”Explain Rob Garf, Vice President and CEO of Retail at Salesforce.
“Online traffic at the beginning of the season was stronger, but sales were weaker. This means that consumers continue to search online and sooner, but never close a purchase. Retail operators should not cut discount margins, but instead focus more on automation and productivity to reduce costs and combat margin pressure.”, Add Garf.
It is expected that global discount rates reach 25% during Cyber Week 2022an increase of 12% compared to 2021. The biggest increases are essentially in three categories: luxury handbags (3x more), general dressing (2x more) and skin and makeup products (2x more). .
