Consumers are spending more in 2021

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 25, 2021, 3:29 PM GMT+0

SaleCycle’s 2021 Ecommerce Report highlights significant positive movement in metrics like average order value between 2020 and the first two months of 2021.

With average order values trending upwards in 2021, it is evident people are spending more than usual. The study found AOV in select ecommerce sectors increased by 75%, pushed by a move to digital transactions.

Though the pandemic has left a toll on people’s lives, they are slowly getting accustomed to the new normal. As a result, consumers have increased spending in grocery, sports and outdoor and retail.

In March 2020, cart abandonment for specific sectors were higher than usual. But in March 2021, the abandonment rates were lower by around 9%. While abandonment rates in the grocery sector decreased significantly, AOV and online sales increased noticeably. The sports and Outdoor sector saw a dramatic increase in AOVs at 196%.

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