Originally published in Women’s Wear Daily.
With a post-pandemic world in mind, Syte, the visual product discovery platform powered by AI, is sharing an analysis of its eCommerce data across the fashion, jewelry and home decor vertical from January to June 2021 to provide insights on an anticipated retail revival.
As previously reported by WWD, consumers are feeling much more comfortable shopping in-store and are settling into “normalcy” as they make plans through wardrobe refresh purchases for upcoming events. Moreover, the National Retail Federation is now projecting up to a 13.5 percent growth in retail sales this year, up from its forecast of just 6.5 percent in February.
Among key findings from Syte, the company notes three very distinct shopper profiles emerging post-pandemic: the bulk buyer, the frequent fashionista and the doubtful decorator.
In a nutshell, Syte defines the bulk buyer as a high-value customer who “makes up the top tier of shoppers when it comes to the average order value.” While these shoppers are not necessarily buying the most expensive items, they are spending on a variety of moderately priced items, driving up average order value through cart size. On average, bulk buyers spend $621 per order when shopping on a desktop and $518 when shopping on a mobile device. Notably, these consumers are most active within the fashion category where they are seen purchasing about 5.8 items per order.