In this article, it is explained how inflation is affecting Online sales.
The conclusion from new research by Delivery Software Metapack. Over 730 retail businesses in 8 countries were surveyed, including the United Kingdom (UK), Germany, France, Spain, and Italy.
Online non-food sales are predicted to increase by up to 4% in the UK, France, Germany, Italy, and Spain. This is mostly driven by rising prices due to inflation. Sales volumes are expected to decrease by up to 5%.
Due to growing prices, more than 30% of customers in the UK and Germany will only purchase goods when absolutely necessary. In France, Italy, and Spain, this percentage is around 60%, which is considerably higher.
Furniture and home goods are the products most at risk. Consumers want to postpone or cancel their order in 68 percent of cases. On the upside, customers are continuing to spend the most on health and beauty products (32 percent).
Customers value delivery costs more in 2023. This number is up 5% from the previous year. At the same time, just 22% prioritize delivery speed, down from 27% in 2022. The ease of shipping, such as selecting a time slot, has also decreased by 5% in 2023. Customers are also less inclined to pay for online refunds. While 27% of customers said they didn’t mind paying last year, this number falls to 24 percent in 2023.
