Online conversion rates jump 21 per cent in July

conversion rates

Online retail sales in the UK jumped 11 per cent in July compared to the same period a year prior, although this was lowest rate of growth for four years.

According to the latest figures from the IMRG Capgemeni e-Retail Sales Index, despite the slowdown in online growth there was a significant increase in conversion rates throughout the month.

Conversion rates hit 5.8 per cent, up 21 per cent year-on-year.

This suggests that discounting activity was high during the month, brought on by pressure from Amazon Prime Day and summer sales.

Alongside a boost in conversion rates, average basket values (ABV) on mobile devices shot up.

ABVs rose 21 per cent on smartphones and 17 per cent on tablets.

READ MORE:  Second-lowest online retail sales growth recorded in June

Clothing and home and garden sectors performed best, seeing a 43 per cent and 83 per cent boost respectively.

“We‘re seeing the slowdown in purchasing continue across July as this trend of low consumer confidence lingers,” Capgemini consultant Bhavesh Unadkat said.

With the pound almost running level with the euro, luxury purchases and ‘nice-to-haves‘ are hit hardest. While conversion rates are up broadly speaking, this is only with repeat buys or necessities.

“Even with enticing luxury offers made available to try and compete with Prime Day, more browsing choice lead to a further dip in conversion for these categories with consumers browsing more but buying proportionately less.”

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