Online Sales Bounce Back
In its most recent weekly e-commerce sales report, researchers at performance branding company Within said the latest data revealed some upward momentum as retailers and brands adjusted to the macroeconomic impact of the coronavirus. The firm also shared a real-time case study of an omnichannel food and beverage client which closed all of its stores, but was able to drive online sales. With apparel, brands saw online sales bounce back after steep declines compared to the pre-Covid-19 benchmark levels. Fashion brands made “a bull run” as they headed into this weekend, Within said, “with revenue up from negative 63 percent to negative 43 percent on the back of the several brands launching new promotions.” With pure-play e-commerce brands, the declines also remained in negative territory, but rebounded from negative 58 percent to negative 52 percent. And revenue for omnichannel brands rebounded “from negative 45 percent to negative 32 percent on the back of new promotions,” authors of the report said. With luxury brands, Within said they “seem to have found their floor between negative 30 percent and negative 40 percent, down 37 percent” as of this past Friday. Regarding Within’s food and beverage client, which the company did not name, more than 70 physical storesFollow WWD on Twitter or become a fan on Facebook.
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