E-Commerce Continues to Thrive in Q3 2014
The e-commerce industry continues to thrive, as new data from Bigcommerce reveals that merchants saw an increase in sales for all three months of Q3 2014.
The data is part of Bigcommerce’s inaugural Ecommerce Report, which is an index of quarterly sales from more than 55,000 Bigcommerce stores. According to the findings, the gross merchandise volume (GMV) per store was 25 percent higher during Q3 2014 than Q3 2013.
The data also suggests that a strong back-to-school shopping season helped drive conversions. For example, merchants in the computer and electronics category saw a 25 percent increase in average order value (AOV) in the third quarter. Additionally, merchants in the business and educational category saw strong sales as well as a 45 percent year-over-year (YoY) increase in GMV. Comparatively, merchants in the hobbies and travel category only saw a 6 percent increase in GMV and a 24 percent decrease in AOV.
According to the data, the lifestyle and home category was the strongest performing product category for Q3 2014. In fact, this industry saw a 71 percent YoY increase in GMV, with a 41 percent per-store average increase. Other leading categories for the quarter included automotive and industrial, fashion, beauty and bridal, and computers and electronics.
Lastly, Bigcommerce’s data shed light on the top U.S. cities for selling online based on aggregate sales and purchasing volume. The data shows that Los Angeles was the top performing region nationally, followed by Austin and Cleveland. Based on consumer spending habits, however, New York, Houston and Chicago were the top U.S. cities for small business purchases.