{"id":5676,"date":"2023-07-31T20:00:14","date_gmt":"2023-07-31T20:00:14","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=5676"},"modified":"2023-11-07T14:08:17","modified_gmt":"2023-11-07T14:08:17","slug":"european-q2-shopping-index-results","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/eu\/blog\/european-q2-shopping-index-results\/","title":{"rendered":"European Q2 Shopping Index Results"},"content":{"rendered":"\n<p>Global online sales in Q2 2023 were flat year over year (YoY) despite a 3% increase in digital traffic, according to the&nbsp;<a href=\"https:\/\/www.salesforce.com\/resources\/research-reports\/shopping-index\/\" target=\"_blank\" rel=\"noreferrer noopener\">Salesforce Shopping Index<\/a>, which analyses the shopping activity of almost two billion global consumers. Much like the previous quarter, the decline was predominantly driven by a slowdown in the U.S. where &#8212; for the first time in the history of the Shopping Index &#8212; there was a decline in online sales.<\/p>\n\n\n\n<p>On the other side of the pond, however, things appear to be looking up &#8212; if the last couple of quarters are anything to go by.&nbsp; Here are some key European insights from Q2 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-europe-is-heading-towards-recovery\">Europe is heading towards recovery<\/h2>\n\n\n\n<p>Admittedly one swallow doesn\u2019t quite make a summer, but if the trend seen in the last two quarters is any indication, Europe is on the verge of recovery. In Q2 2023, digital commerce in the region grew 1% YoY, following some quarters of slowing declines. That said, order volume declined 6% and the overall average selling price (or ASP, meaning the average price of a unit sold) was up by 7% YoY, suggesting that some of this growth was driven by the persistent and widespread inflation seen across many parts of Europe.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d70c834846a&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d70c834846a\" class=\"wp-block-image aligncenter size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" height=\"692\" width=\"1024\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png?w=1024\" alt=\"\" class=\"wp-image-5679\" style=\"aspect-ratio:1.4804630969609263;width:561px;height:auto\" srcset=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png 1312w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png?w=300&amp;h=203 300w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png?w=768&amp;h=519 768w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png?w=1024&amp;h=692 1024w, https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/uploads\/sites\/14\/2023\/11\/q2-shopping-index.png?w=150&amp;h=101 150w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><span style=\"color: rgb(34, 34, 34); font-family: SalesforceSansRegular, Helvetica, Arial, sans-serif; font-size: 15px; letter-spacing: normal; white-space-collapse: collapse;\">In terms of the categories that saw the most growth in the quarter: luxury handbags (+34%), active footwear (+31%), health &amp; beauty (+21%) and general footwear (+18%), were the top performers across Europe.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-most-european-countries-returned-to-positive-territory\">Most European countries returned to positive territory<\/h2>\n\n\n\n<p>Compared to many countries worldwide, some European countries saw the biggest growth in Q2. Of course, these comparisons favour European retailers to some degree, considering the particularly challenging conditions faced during the same period last year. Nonetheless, Spain and Belgium led the pack in Europe, with online sales up 11% in both countries.&nbsp;<\/p>\n\n\n\n<p>In Spain, order volume grew 7% and Units Per Transaction (or UPT) remained fairly flat YoY, indicating that shoppers in Spain are certainly buying more, but with the average discount rate down 9% and ASP having grown 10% YoY, they\u2019re also having to pay a lot more than they did for the same items a year ago.<\/p>\n\n\n\n<p>In Belgium, order volume declined 12%, UPT declined slightly (-3%) and ASP increased by a notable 17% &#8212; shoppers here, it seems, spent more but didn\u2019t buy more. Also worth mentioning is that while the use of credit cards in the region has been on a gradual decline for the last few quarters, the data shows a 31% YoY increase in the proportion of transactions that were paid for using Finance (which includes options like Buy Now, Pay later) in Q2.&nbsp;<\/p>\n\n\n\n<p>At this point, it\u2019s no longer surprising that Eastern Europe continues to record positive growth.\u00a0<\/p>\n\n\n\n<p>Digital sales in the region grew 10%, with order volume remaining flat during the period. That said, for the first time in at least four quarters, there was a decline in the average discount rate in the region (-7% YoY). The about-face in promotional tactics used over the last several quarters was likely prompted by the\u00a0<a href=\"https:\/\/www.focus-economics.com\/regions\/central-and-eastern-europe\/#:~:text=Central%20%26%20Eastern%20Europe%20Inflation,pressures%20above%20central%20banks%27%20targets.\" target=\"_blank\" rel=\"noreferrer noopener\">downward trend in inflationary pressure across the region<\/a> and helped support growth in overall digital sales.<\/p>\n\n\n\n<p>Italy was also positive in the quarter, with online sales up 8%. Order volume grew by 1%, despite a 3% drop in the average discount rate in the country. Much like Belgium, ASP also grew notably in Italy (+14%), helping to drive some of the growth seen in the quarter.<\/p>\n\n\n\n<p>Other countries with positive growth in the region include France and Germany, both recorded digital commerce growth of 3% YoY.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-takeaway\">Takeaway<\/h2>\n\n\n\n<p>Data for the first half of this year shows that despite inflationary pressures, consumers are starting to loosen their purse strings across some markets in Europe. For retailers, now\u2019s the time to focus on delivering those seamless and personalised experiences that consumers have come to expect, to help drive engagement and loyalty.<\/p>\n\n\n\n<div class=\"layout-five wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\">European Q1 Shopping Index Results<\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Discover the key learnings about European shopping from Q1 2023.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"wp-block-button\">\n\t\t\t\t\t<a class=\"wp-block-button__link\" target=\"_blank\" href=\"https:\/\/www.salesforce.com\/uk\/blog\/2023\/04\/eu-Q1-shopping-index-results.html?d=inc-blog-banner\">Read the Blog<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t\n\t\t\t<!-- Standard Illustration -->\n\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__illustration\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-illustration-layout-five.png\" alt=\"\">\n\n\t\t<!-- Small Accent Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__accent\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-accent-layout-five.png\" alt=\"\">\n\t\t\n\t\t<!-- Left Side Illustration -->\n\t\t\n\t\t<!-- Cloud Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__cloud\" src=\"https:\/\/www.salesforce.com\/eu\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-cloud-layout-five.png\" alt=\"\">\n\t\t\n\t<\/div>\n\n\n\n<p><sub>Methodology<\/sub><\/p>\n\n\n\n<p><sub>Powered by Salesforce platform data, the Shopping Index uncovers the true shopping story. We look at the previous nine quarters to uncover a deep understanding of how consumer behaviour is evolving and how the market is moving. The Shopping Index analyses the activity and online shopping statistics of more than 1.5 billion unique global shoppers from more than 67 countries. This battery of benchmarks covers both the recent history and current state of digital commerce. Several factors are applied to extrapolate macroeconomic figures for the broader retail industry, and these results are not indicative of Salesforce&#8217;s performance.<\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Europe shows signs of recovery, as Q2 2023 online sales continue the positive trend seen in Q1. Learn more here.<\/p>\n","protected":false},"author":1,"featured_media":5681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_justforyou_enable_alt":true,"optimizely_content_id":"bd47264cdefb4624bc26370e8aa3e714","post_meta_title":"","ai_synopsis":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"sf_topic":[65,60,57,62],"sf_content_type":[],"coauthors":[63],"class_list":["post-5676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","sf_topic-commerce","sf_topic-retail-insights","sf_topic-retail","sf_topic-shopping-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>European Q2 Shopping Index Results - Salesforce<\/title>\n<meta name=\"description\" content=\"Europe shows signs of recovery, as Q2 2023 online sales continue the positive trend seen in Q1. 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