There is new information and stats being released daily regarding the COVID crisis and its impact on economies world wide. We are continuing to closely monitor the situation so that we can provide our clients and the rest of the eCommerce community the most accurate and up-to-date information available.
In our latest update we’ll be taking a look at how augmented reality apparel is in high demand, Kount’s new information hub and how your business can begin to adapt.
Apparel Augmented Reality is Booming
It’s no secret that eCommerce sales for apparel are down, but what is surprising is that the traffic on digital fashion apps and websites is on the rise. According to Quantum Metrics, as of April 10th, online revenue for apparel was down 11% over last year. But even though sales have stalled, interest in fashion and apparel certainly has not. The try-on app Forma has seen its New Users double each of the last 4 weeks, with users spending 50% more time on the app and trying on nearly double the amount of outfits per user, compared to pre-COVID activity. Brands such as Tommy Hilfiger and Marc Jacobs have seen an increase in traffic as well as time-on-site. Digital apparel sites and apps offer customers a respite from real life and have the opportunity to increase engagement and attract long-term customers during this crisis. If you’ve been thinking about adding Augmented Reality or digital ‘try on’ capabilities to your apparel site, now might be the perfect time to do it. There is also an opportunity to create long term customers by allowing them to ‘play around’ on your eCommerce site today. The clothing and accessories that customers ‘play’ on today, during the crisis, may very well be the exact items that they purchase in the near future when the markets and uncertainty have leveled off.
Kount Announces New eCommerce Trends Platform
One of the leaders in digital fraud prevention and account protection, Kount just announced that they will be launching a new weekly tracker for up-to-the-minute eCommerce traffic and purchasing trends as related to the COVID pandemic. The purpose of this site is to help businesses worldwide monitor trends including shifts in eCommerce models, ebbs and flows of shipping requests, the latest in fraud prevention and tracking online. “With this eCommerce Data Tracker, we want to help businesses navigate the current state of eCommerce,” said Brad Wiskirchen, CEO, Kount. “With the number of external factors businesses face today, understanding patterns and vulnerabilities in eCommerce is key to adjusting operations and commerce models. This in turn allows businesses to address their customers’ critical needs in a timely manner.”
New Actionable Business Guide
Is your eCommerce business struggling to add value during these uncertain times? What should you be doing during this shut-down? How can you connect with your clients? Is there any way to adapt your services over the next few weeks? Customer Think surveyed a number of business owners and has just released an actionable guide to help businesses during this time that includes suggestions and tips such as; create educational content and how to connect with your existing customers. You can read the entire guide here.
As always we will continue to monitor the COVID situation and its effects on eCommerce so that we can keep you and our clients up to date on the most relevant information. Until next time, stay safe and stay healthy.