ONLINE retailers have enjoyed a 38 per cent increase in transactions and a 34 per cent increase transaction values, according to a leading eCommerce platform.
eCommerce provider Venda said its customer base enjoyed the significant spike in earnings and added that the ‘royal effect’ was significantly greater than during the wedding of Prince William and Kate Middleton.
Quintessentially ‘British’ brands, on the Venda platform saw sales more than double compared to last year’s late Spring Bank-holiday period as consumers sought out patriotic products or heritage souvenirs.
Gifts also performed extremely well when compared to last year’s spring bank holiday with transactions increasing by 60 per cent and sales values by 77 per cent.
But due to the dismal weather home and gardening products only increased sales by three per cent despite the extra shopping day and four-day weekend.
Eric Abensur, group CEO at Venda said: “Anticipations for the Jubilee weekend were high for many retailers. In such a highly competitive retail environment retailers must seize every opportunity to capitalise on occasions where consumers may loosen the purse strings.
“After dismal figures reported by the Office of National Statistics and British Retail Consortium for April, retailers were looking to the long bank holiday for a much needed early June boost, and those on the Venda platform got it.
“Online retail continues to go from strength to strength, securing a greater share of the market month on month. The flexibility and innovation that online and mobile channels allow are now an essential part of how retailers look to match their retail strategy to the needs of the consumer.