Retail sectors are normalising after the COVID-19 demand spike
E-Commerce jumped 55% during Covid and the trend of online shopping is here to stay however it doesn’t mean the growth can be sustained or stay at its peak. As consumers look to spend more time on the high street, and enjoy activities outside of the home, and as inflation bites key sectors within retailers are already showing signs of normalising trends and activities.
Upp has analysed data from Google Shopping trends, looking at Garden Furniture and Kitchen Appliance as search terms.
The trend clearly shows that after the major spike in demand the seasonal trend and levels of purchasing intent for Garden Furniture are going back to more historical levels than being pre-COVID and compared to the norm, the peak for this time of year is lower than previous years and dropping more rapidly than anticipated due to current macro environment i.e. inflation
The trend and activity levels are even more obvious in Kitchen Appliances as we have already gone back to 2019 levels and as inflation is really hitting consumers, we can already see the dip due to consumers tightening up their belts as they look to weather the energy-driven inflationary environment.
For retailers and brands, in the face of supply chain challenges and labour shortages, are feeling the impact of this on their bottom line and are actively looking at effective margin management.
Retailers and brands in areas that saw a major uptick due to lockdowns across the world, we are hearing of profit warnings and some struggling to survive as supply chain issues bite and demand from consumers drops to normal levels.
Hoping for sustainable growth in these areas, such retailers are now scrambling to find ways to survive this market by looking at solutions that deliver true RoI and generate revenue whilst protecting profit. Many providers say they can but only Upp can say we are doing it through utilising your data sets and working with the latest AI and Automation technology from Google.
Consistently finding revenue opportunities in the post-COVID environment
Retailers and brands are also facing other key challenges such as inflation, supply chain, and labor shortages. This will also affect brands and retailers whose sectors are still experiencing growth – as those other key challenges have a ripple effect across all industries, sectors and markets.
Upp is here for you. We are reinventing how retailers trade, make decisions and act, spotting trends as they happen, and using powerful AI and automation to ensure your inventory performs the best it possibly can 24/7.
See for yourself with our free audit which analyses your datasets and the performance of your Google Shopping account. You will see the unlocked opportunities to achieve your business goals within current market conditions.
Upp customers see on average:
- 62% increase in the rate of transactions
- 48% increase in available budget spent
- 27% increase in growth of revenues
- 16% increase in new customer purchases
- 14% increase in conversion value for brands
But don’t take our word for it:
Our customers have been able to navigate the post-COVID era and inflationary environment in order to achieve sustainable business growth, based on us consistently and automatically combining inventory data with Google Shopping or Performance Max data and finding previously unseen opportunities within the business.