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Brexit Sales Statistics – One Week Later
Data from 50 UK online stores show overall increase in sales and revenue from outside the UK
The Brexit referendum had economic implications far beyond the United Kingdom. Pension funds in the US lost value and the GBP’s fall against the Euro will cause a spike in prices – and a drop in sales – outside of the UK. However, sales among UK retailers online increased dramatically among non-UK residents in the week since the Brexit referendum on June 23. Number of sessions, conversions and sales increased among retailers, as cart-abandonment numbers dropped. Conversely, sales among UK residents dropped significantly when compared to previous weeks.
The strengthening of foreign currencies against the GBP lead non-UK consumers to purchase from UK retailers at a significantly higher rate than usual. Barilliance analyzed sales data among 50 UK retailers that use the Barilliance e-commerce personalization technology and revealed that:
Non-UK residents have increasing their visits and purchases on UK sites*
- Shopping sessions: +6%
- Sales: +30%
- Cart abandonment rate: -1.30%
The numbers for UK residents are very different – they browsed more, but made significantly less purchases
- Shopping sessions: +4.40%
- Conversion: +1.50%
- Sales: +3.40%
- Cart abandonment rate: +2.30%
Based on this data, Barilliance encourages UK retailers to increase advertising and marketing budgets geared at foreign consumers by implementing geo-targeted campaigns.
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