"Consumers are still being cautious about their discretionary spending and we likely won't see signs of a strong rebound until at least the second half of the year.
"With consumers finding it nearly impossible to avoid the impact of inflation, and experts predicting a long and bumpy road ahead, it's crucial for retailers and brands to be thinking about improving performance and efficiencies throughout their entire business model to retain and increase revenues," said Syte CEO, Vered Levy-Ron. The report includes trends and findings from an analysis of more than 2.9 billion eCommerce sessions from the company's expansive global database of fashion, jewelry, and home decor brands and retailers, between July 1 and December 31, 2022.Īs the retail and fashion industries continue to face headwinds and a volatile landscape due to high inflation and decreased consumer spending, the State of eCommerce Discovery in 2023 report peels back the layers of consumer behavior and spending patterns to highlight deep insights that can boost efficiencies and business performance. TEL AVIV, Israel, Ma/PRNewswire/ - Syte, the leading Product Discovery Platform for retail, today published its annual State of eCommerce Discovery report.
Annual report identifies trending fashion styles ahead of summer as well as how consumer behaviorĪnd spending patterns continue to transform amid record inflation
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