Supply-chain problems and fears about inflation are not preventing consumers from spending online.
Average order value increased by 19% in Q2 compared to Q1, according to an analysis by customer platform Klaviyo.
Yet brands are offering 18% fewer discounts as they cope with increased prices for goods.
Meanwhile, small businesses that sent “Back in Stock” emails saw a 9% increase in order value compared to the prior quarter.
Klaviyo defines “small” as firms with less than $5 million in revenue.
The sheer number of orders increased in several categories, compared to Q1:
In contrast, health and beauty orders increased by only 2%, and the average order value by 1%. And consumers placed 5% fewer electronics orders.
In addition, consumers placed only 2% more orders for home goods in Q2, with the average order value rising by 7%, probably due to inflation.
The average order value is up 24% in the U.S., compared to 9% in EMEA and 2% in APAC.
“Despite the economic headwinds, consumer spending in certain categories continues to be consistent, particularly in categories like apparel and accessories as consumers start attending more events and returning to the office,” concludes Andrew Bialecki, CEO and co-founder of Klaviyo.
Bialecki adds: “While consumers might pare back on buying higher priced goods like electronics, or price shop for more ‘essential’ goods, they’re still going to buy from the brands they love.”
Klaviyo examined results from over 300 million global shoppers across more than 80 countries and territories powered by the company’s platform.