The Queen’s diamond jubilee was a reason for mass celebration across the country with millions watching the river pageant, concert and the procession over an extended bank holiday weekend. What’s more, according to a report by ecommerce services provider Venda, retailers were also in jubilant mood for other reasons.
Over the long weekend in June, Venda saw a 38 percent increase in online transactions across its customer base, which includes companies such as Heal’s, Emma Bridgewater and Accessorize, with a 34 percent increase in sales value. The report shows that British brands on the Venda platform saw sales more than double compared to last year’s spring bank holiday period with gifts performing particularly well, increasing by 60 percent and sales values by 77 percent compared to last year’s spring bank holiday.
The Venda study also highlights that the Queen’s diamond jubilee in comparison with the royal wedding in April 2011 saw online retailers’ transaction volume and values increase by 176 percent. Brands strongly associated with “Britishness” saw sales values increase to six times the amount spent during the royal wedding weekend.
What this demonstrates is that brands seized the opportunity to capitalise on their Britishness to make the most of this key retail period. With the economy in a fragile state, retailers were looking to the bank holiday weekend for a much needed boost; and according to these stats, many achieved it.
Looking ahead, those retailers that have an event-led retail strategy in place will be best placed to maximise their sales opportunities in the months to come.
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