eCommerce Report by New Zealand Post Delivers New Insight
A new report based on real credit card transactions in 2016 and 2017 shows insights across a number of shopping categories.
Here's a few insights from the report that I've turned into actionable ideas for three of the five industry sectors the report covers:
Actionable Insight For Fashion / Clothing Manufacturers
While fashion loses a larger share of revenue to overseas competitors than any other category, they're deploying competitive tools to keep the sale in New Zealand including adopting overseas models of buy now and pay later. Afterpay provides a way for consumer to pay later in four installments.
Convert on the desire to buy creating through newsfeeds by disconnecting it from the requirement to pay on your website by implementing a buy now and pay later capability.
Actionable Insights for Specialty Food and Beverage
Southland, Otago, Nelson and the Waikato are the hot four regions all with spending growth above 30% with a collective $90 million of online food and beverage spend in the areas. 76,000 women on Instagram in these same regions and half of all food and beverage shoppers being women under 44.
For a spend of $35 per day, you could reach almost 100% of the above market segment within a month. Add an ‘interest modifier’ in your targeting and you could get even more specific.
Actionable Insights for Health and Beauty
Health and Beauty is not subject to the same sort of spikes seen elsewhere. Governed by the regularity of demand more than seasonal swings, this provides a stable and more predictable buying pattern for retailers.
Consider introducing a new product on subscription basis only where you can predict when re-supplies are needed reducing the marketing resources to retain the customer.