A recent survey of twelve hundred customers by ‘Brightpearl’ analyzed the shopping trends over the recent Thanksgiving holiday. The key shopping days focused on were:
• Black Friday
• Small Business Saturday
• Cyber Monday
Not surprisingly, there is an increase of 21% in Gross Merchandise Value (GMV) growth rate compared to 2014, for independent retailers. Looking at the individual days, Thanksgiving saw the greatest positive percentage change in GMV, whilst Cyber Monday experienced a negative percentage change in GMV, although remained the overall greatest contributor to GMV over the period.
Amazon increased their share of the sales at the expense of eBay, who had a smaller proportion of the market than in 2014. On Cyber Monday, Amazon received 36% of all online sales. It seems that Amazon’s Prime service has helped increase the marketplace’s share of the market, attracting both sellers and buyers.
Although, overall the sales have increased, the average order value has decreased from 178 USD to 155 USD, suggesting that increases in sales are resulting from increased discounting by sellers.
Smaller businesses fared well on Small Business Saturday with a 55% increase in GMV compared to 2014. There was also a 14% increase in spending for the independent retailers. The trend towards online rather than store-bought purchases continues. This move away from the high street has enabled smaller businesses to thrive and develop.
Online businesses have access to a vast global market, without the need for costly bricks and mortar buildings. Customers want their goods to arrive in a timely manner. Using an order fulfillment company like DK Fulfilment can enhance the service offered by small businesses. This coupled with innovative products and using the facility of a large marketplace platform, makes the small business often a more attractive seller than its larger opponent.
Are you looking to maximize the potential of your small business? Call us on +44 (0)2476 581901 to discuss your fulfillment options with our experts!