December 2016 was a successful month for Volo’s customers with trading growing by 13% compared with the previous month.
6th December was the busiest trading day, followed by 1st, 7th and 12th December.
Electronics & Technology, Fashion, and Motors were the most successful product categories. In terms of gross merchandise value (GMV) Electronics & Technology remained at a similar level with 2015. Fashion saw an increase of 7% while Motors grew by 25%.
“Such reports are critical for retailers because it helps them pre-empt spikes in demand. Knowing ahead of time when people do their seasonal shopping lets retailers order the right products, create specific offers and strengthen their logistics capabilities.”
Paul Watson, CEO of Volo Commerce.
Retailers selling Business, Office and Industrial products also had a good month. Their sales went up by 27%. Music Instruments and Books & Media were in high demand as well, with each sector reporting growth of 14% and 12% respectively.
Shoppers were also interested in buying DIY and Garden products in December 2016. Sales grew by almost 9%.
Although domestic sales still represent the biggest chunk of online sales, more and more British merchants are expanding internationally. Germany, US and France are where British retailers are most successful.
Analysis makes it profitable
Successful retailers usually begin preparations for the seasonal peak many months in advance.
Volo’s reporting tool - Volo Vision - is particularly useful at this stage as it enables retailers to analyse historical data from previous years to create a clear map of fast moving products, profit margins and the overall performance of product categories in their inventory.
Without clear visibility of business activity, merchants can’t track trends, anticipate potential issues or plan where growth will come from next. Reporting and analysis drive all the other levers of growth and efficiency in a multichannel business.
In conclusion, if there is a number or metric that can be assigned to an activity, you should analyse it, as it can have a significant impact on profitability and long-term growth.