We analysed 3 years of shopping trends
At GyanaAI -we analysed the volume of searches for shopping from 2012 to 2015, and we find a continuous increasing trend across 3 years! Yes-we are shopping more and more each year-CAGR is just crazy.Yet, traditional shopping is a complete loser-why?
We took all the top shopping centres in the UK and used their 5 year search trend.
1. Christmas dominates, search volumes are about 3 times the rest of the year
2. Post Christmas, search volumes drop completely and then slowly rise the rest of the year
3. There is always a spike in Easter weekend (Good Friday to Easter Monday)
You can see that the search is steadily growing. The Easter spike occurs around week 12 (it’s not as obvious because easter is a different time each year). Christmas spike occurs in mid December (week 51)
What is interesting to see is while traditional shopping places are rapidly closing down, the search volumes for shopping centres have remained identical for the last 5 years while the rapid growth of online search is going up along with online purchasing.(Although,worth mentioning traditional ecom shopping like Net-a-porter distinctly down).
You can see the rise of e-commerce clearly-here’s an example of three e-commerce stores—(red) Missguided, the UK fast fashion challenger that has been growing strongly since 2012 and before.(blue) Shein, very fast up-and-coming ecommerce.(yellow) Net-a-porter, the more traditional e-commerce that is slowly losing out
That huge spike in Misguided (2016 end) is because they opened a new store in Westfield shopping centre.Their big campaigns like getting Nicole Sherzinger on board in October 2014 creates a distinct trend ( and believe me I still get retailers who do not believe in the power of campaigns ).
We noticed in another result that Next has a spring sale and a summer sale, and that directly leads to increased searches for them.
Who says we are not shopping? We are shopping a lot and more and more each year.
If you have not adopted technological advances to transform and innovate in your retail organisation-if you are still not data led-then you cannot surf this giant wave.
GyanaAI can show you a magic mirror for your store that never existed before - get in touch for a demo!