BigCommerce and their “14 spoonfuls of elite executives”
recently released their first report on client e-commerce sales and the results
seemed to concur.
According to their third quarter data (Q3), the sale of
big-ticket items has seen vast growth throughout the summer months of July,
August, and September; indicating a more successful back-to-school shopping
season for their 55,000 merchants than that of 2013.
The highest increase in sales were in
lifestyle and home, and computer electronics retailers. The top performing product category in the Q3 report was lifestyle
and home, which BigCommerce says exemplifies that these businesses’ sales pick
up when there is substantial economic growth and a booming real estate market.
The report evaluates their findings and shows how consumers
tend to spend significantly more money when the economy is doing well; spending
25% more on electronics to reach a 56% growth, 45% more on educational
products, 6% more on travel and hobbies, and 71% more on home products. The
overall average growth in sales was 41%, with an average growth per store at a
25% increase higher than that of 2013.
In addition to the report by BigCommerce, CartFly.com released an
editorial on the factors that influence online furniture sales; stating that
furniture sales are directly related to the housing market trends. If consumers
are not buying homes then they are not purchasing items for their homes. When
the housing market is rebounding, it positively affects consumers’ likelihood
of purchasing big-ticket items online for their homes, utilizing the convenience that online shopping offers for finding the best price.
CartFly and BigCommerce’s Q3 analysis, fuels the
conclusion that consumers are beginning to not only buy homes while mortgage
interest rates are low, they are also starting to invest in their homes again.
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