More than a quarter (28.8%) of the UK’s total fashion spend will come from online sales by 2020, according to new data released today.
The UK’s online fashion performance is already strong. Between 2015 and 2016, there was a 28.7% spike in traffic to fashion retailer’s websites — dwarfing the overall European growth of 18.4%, according to digital agency Mediaworks.
And as the UK’s online fashion market continues to strengthen, an increasing number of luxury fashion retailers are wanting a piece of the action.
Back in 2015, luxury fashion sales accounted for just 3% of the worldwide fashion spend; but predictions estimate this figure will grow to 17% by 2018.
So how can lingerie retailers capitalise on their growing online audience?
Here, digital agency Mediaworks highlights key digital trends retailers must consider for a successful online strategy:
“RankBrain is Google’s artificial intelligence system that is working to make the search engine smarter. It works by ensuring the most relevant results are displayed for users. Unlike other ranking factors, you can’t optimise your site for RankBrain. However, because the system looks for relevancy, keeping your content up-to-date will aid your ranking potential. Ensure the content you create fully answers user search queries and monitor its performance. If bounce rates are high, your content may not be performing as expected; review and tweak to find out what works best for your users.”
“On average, the conversion rate for fashion retailers is just 1.7% on mobile devices — significantly lower than tablets and desktop rates. This suggests that mobile is most commonly used to research a purchase. There is a clear need for retailers to improve their mobile offering. It goes without saying that they should have a fully mobile-friendly site — it is twice as likely to convert than a site that isn’t mobile friendly. Developing an app could also be beneficial, as they have a 54% purchase rate compared to 44% for sites.”
Prevent Basket Abandonment
“Basket abandonment is a big problem for fashion retailers. The most common reasons why users will leave a site without making a purchase include unexpected shipping costs (28%), having to create a new account (23%) and conducting research (16%). To counter these issues, streamline the checkout process to make it easier for users and clearly provide all of the delivery and returns information they need. Use basket abandonment emails and dynamic remarketing to remind those that don’t make a purchase of the items. 44% of all abandonment emails are opened and almost a third of clicks lead to a purchase.”
“Social media is a key platform for fashion brands. On Instagram alone, they receive three times more interactions than other brands and have a three times larger audience on the site. To connect with your target audience on social media, invest in social advertising to promote your products, giving users an opportunity to share their views about your brand. Implementing an online reputation management strategy to control how your company is perceived online will also be beneficial.”
To download Mediaworks’ Fashion Digital Forecast white paper, click here.