There has been no escaping the ‘jubilation’ that swept the country in the run up to the Queen’s Diamond Jubilee. Retailers of all shapes and sizes, whether online or in-store have looked to capitalise on the uplifted mood of the nation generated by celebrations.
Over the extended Bank holiday weekend Venda has seen 38 per cent increase in online transactions across its customer base with a 34 per cent increase in sales value and with transactions and values almost trebled compared to Royal Wedding weekend.
Whether with Jubilee themed products or discounts and promotions, retailers have sought to make the most of the celebration, and after bleak April sales figures and a challenging retail market, the Jubilee weekend has helped to put UK retailers back on track.
Quintessentially British brands, on the Venda platform saw sales more than double compared to last year’s late Spring Bank-holiday period as consumers sought out patriotic products or heritage souvenirs.
Gifts also performed extremely well when compared to last year’s spring bank holiday with transactions increasing by 60 per cent and sales values by 77 per cent. However, due to the dismal weather home and gardening products only increased sales by three per cent despite the extra shopping day and four-day weekend.
In comparison with the Royal Wedding in April 2011, transactions and values both increased 176 per cent. Brands strongly associated with ‘Britishness’ saw sales values increase to six times the amount spent during the Royal Wedding weekend.
Eric Abensur, Group CEO at Venda commented: “Anticipations for the Jubilee weekend were high for many retailers. In such a highly competitive retail environment retailers must seize every opportunity to capitalise on occasions where consumers may loosen the purse strings. After fairly dismal figures reported by the ONS and BRC for April, retailers were looking to the long bank holiday for a much needed May boost, and those on the Venda platform got it.
“Online retail continues to go from strength to strength, securing a greater share of the market month on month. The flexibility and innovation that online and mobile channels allow are now an essential part of how retailers look to match their retail strategy to the needs of the consumer.”