PriceSpider is sharing data points showing a major increase in both sales and traffic for e-commerce in Q2 year-over-year for this year and last. The company saw a 124% increase in traffic and a staggering 180% increase in sales across their platform. Further, the platform showed a 79% increase in traffic and a 136% increase in sales quarter-over-quarter between second and first quarters of 2020. PriceSpider's platform processes and analyzes insights about consumer purchasing behavior for many of the world's largest brands.
"We've seen historic numbers in e-commerce activity throughout the pandemic, and the last couple months are no exception," said Anthony Ferry, Co-founder and CEO of PriceSpider. "Stay-at-home orders continue to be in flux across the country, but e-commerce continues to boom. The patterns in not only traffic, but also volume of sales and transactions that we're seeing on the platform validate that. We don't anticipate a slow down any time soon, with Amazon Prime Day being postponed to the fall and then the always busy holiday window coming quickly after that, and brands will need to gear up and be ready for the continued e-commerce surge."
While categories across the board have seen e-commerce gains, PriceSpider's data also shows that from May 4 to August 10 - over the course of 15 weeks - Health & Beauty was the top category on the platform for all but one week, the week of May 18, when Consumer Electronics reigned supreme. With massive gains in e-commerce, many are wondering what this will look like for one of the biggest online shopping days of the year, Amazon's Prime Day, which has been postponed to the fall due to the pandemic.
To help brands get ahead and prepare for Prime Day, PriceSpider is sharing top tips for brands to put their best foot forward with so many eyes on e-commerce:
- Get Organized: If you don't already have a top-to-bottom plan in place, now is the time. Amazon has moved the date back twice this year due to the pandemic and hasn't set a firm date for the sale yet. Make sure you know exactly which of your products you're going to be putting on sale, for how much of a discount and for how long.
- Drive Traffic from All Angles: Consider creating Prime Day specific digital or social advertising that will pull buyers directly to your Amazon page. It might seem like a short window for which to create specific ads, but the benefits reaped could be huge if positioned properly. If you utilize Where to Buy technology, drive buyers directly to a dedicated Amazon page within the platform so that you can capture valuable sales data.
- Plan for the Aftermath: Is your supply chain set up to handle fulfillment if your product sells as well as you'd like? If all goes according to plan, you may have hundreds, if not thousands, of customers anxiously awaiting the delivery of one of your products. Ensure they're not disappointed in the back end of your interaction with them by making sure your supply chain is up for the task ahead of time.