SOURCE: Coremetrics

Coremetrics

April 14, 2010 09:03 ET

Q1 2010 Online Sales End on an Upswing, Reports Coremetrics

Department Stores, Sports Gear Retailers Big Winners

SAN MATEO, CA--(Marketwire - April 14, 2010) -  Over the first quarter of 2010 (January 1, 2010 - March 31, 2010), the U.S. online retail sector showed encouraging sales results, according to Coremetrics, the leader in marketing optimization.

The company's analysis revealed the following trends:

  • Online retail sales were down 9.5 percent compared to Q4 2009, which posted strong holiday sales results. However, sales trended up from February to March, with an increase of nearly 10 percent reflecting encouraging sales momentum in the latter end of the quarter.
  • Average Order Value (AOV) shot to $180.95 in March, compared to $168.23 in January, an increase of nearly 8 percent. More importantly, March's AOV is also up over December 2009 ($171.89) by 5.3 percent, showing continued, strong momentum in consumer shopping.
  • The average number of items per order showed strong gains, with an increase of 7.2 percent in March compared to January. This number, combined with the rise in AOV, indicates that shoppers are more willing to spend and appear to be showing greater confidence in the economy.

"The online retail sector as a whole delivered an encouraging performance over the course of the first quarter," said John Squire, chief strategy officer, Coremetrics. "Though overall sales were down slightly for the quarter, the sector posted strong gains in March. Both AOV and items per order are trending solidly up, reflecting renewed consumer confidence in the economy and continued promotions from savvy retailers. In particular, department stores and sports gear retailers have done an exceptional job of attracting consumers and delivering strong sales results."

Retail Categories

  • Department Store sales for February were up more than 3 percent over January, and sales for March were up nearly 16 percent over February. AOV in March was $140.61, compared to $128.57 in January and $125.95 in December 2009, for increases of 9.4 percent and 11.6 percent respectively. The number of items per order also trended up, with an increase of 14.3 percent in March compared to January.
  • Sports Apparel and Gear retailer sales for February were up 21 percent over January, and sales for March were up nearly 36 percent over February. AOV in March was $131.00, compared to $120.29 in January and $112.51 in December 2009, for increases of nearly 9 percent and 16.43 percent respectively. The number of items per order also showed gains, with an increase of 18.4 percent in March compared to January.

Source
These findings are based on data from Coremetrics Benchmark™, the industry's only peer-level benchmarking solution that measures online marketing results, including commerce data, against those of the competition. More than 500 leading U.S. retailers contribute their analytics data to Benchmark. All data is aggregated and anonymized. Abercrombie & Fitch, Bath & Body Works, Bloomingdale's, Coldwater Creek, L'Occitane en Provence, Macy's, Nordstrom, Office Depot, PETCO and Williams-Sonoma are just a few of the participating companies.

Coremetrics recently enhanced Benchmark to include near-real-time data and added advanced functionality, such as sales trends by comparison period, conversion rates from Pay per Click (PPC) campaigns, and website traffic by browser type. Over the last year, Coremetrics has nearly doubled the number of companies participating in Benchmark.

Coremetrics Benchmark comes standard with Coremetrics Analytics for no additional cost.

About Coremetrics
Coremetrics is the leader in marketing optimization. Its products help businesses relentlessly optimize their marketing programs to make the best offer, every time, anywhere, automatically. More than 2,100 online brands globally use Coremetrics' Software as a Service (SaaS) to optimize their online marketing. Coremetrics' integrated marketing optimization solutions include real-time personalized recommendations, email targeting, display ad targeting across leading ad networks, and search engine bid management. The company's solutions are delivered on the only online analytics platform designed to anticipate the needs of every customer, automate marketing decisions in real time, and syndicate information across all customer channels. The company is privately held with funding from Accel Partners, FTV Capital, Highland Capital Partners, and W Capital Partners, and is headquartered in San Mateo, California.

Find more information at coremetrics.com or 866-493-2673.

Coremetrics has strongly supported online privacy since its inception. To learn more, visit www.coremetrics.com/privacy.

Contact Information

  • Media Contacts:

    Michela Stribling
    Senior Director, Corporate Communications
    (650) 762-1433
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    Shelley Risk
    Horn Group for Coremetrics
    (415) 905-4037
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