Cyber Sales delivered strong returns for Australian brands
Australian retail spending increased 10 per cent during the Cyber Weekend sales period, according to data released by Pattern.
The company’s Cyber Weekend Benchmark Report found that Australian brands and retailers achieved an 8 per cent increase in website traffic as well as a 1 per cent increase in conversion rates and average order value (AOV) – with Black Friday holding the strongest AOV of $155.
Merline McGregor, GM at Pattern Australia, said the recent Cyber Sales period delivered “strong returns for Australian brands” who will be alleviated following a softer operating period.
In line with these results, the company has also predicted trends retailers must be aware of for the upcoming year.
Consumers using social media apps for shopping is projected to increase up to 6.4 million by 2024. Hence brands seeking to connect to Millenials and Gen Z shoppers must improve their pixel and product feed hygiene.
Retailers are also encouraged to develop and execute Amazon’s go-to-market strategies to not only expand their reach and “drive” revenue but also defend against competition and unauthorised sellers.
McGregor said the upcoming year will be a period of change for the Australian retail sector as brands will be challenged by a likely reduction in consumer spending and a shift in buyer behaviour.
- Further reading: US retailers on track for record Cyber Monday.
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