The impact of COVID-19 – exclusive sectorial stats and trends

eCommerce Trend Watch: 1st edition

iAdvize COVID Trends Conversational Platform

 

 

Since February 22nd, when the coronavirus became a global threat, iAdvize, the conversational platform, has tracked close to 8 million transactions and more than 10 million messages. The analysis of this data has led us to set up monitoring tools to watch sectorial trends and keep decision-makers informed of the latest developments. We bring you the first edition today.

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1. Trends in eCommerce by sector

As social and outdoor activities have been severely restricted, online sales have increased for our clients in the consumer goods industry. This is particularly the case with DIY, and cultural & leisure product websites, which have seen major boosts in the space of a week. As predicted, the tourism and transport sectors have recorded a decrease in transactions although we can see an increase in website visits related to consumer concerns.

From March 10th to March 16th, this is what we have seen with our clients:

  • Consumer goods: 57 million visits (-9.27% vs the 7 previous days) and 1.5 million transactions (+2.4% compared to the previous period). In this sector:
    High-tech: 408,600 transactions, +3.5% compared to the previous period
    DIY: 65,374 transactions, +24.1% compared to the previous period
    Cultural and “hobbies” products: 120,725 transactions, +16.5% compared to the previous period
  • Tourism and transport: 16.3 million visits (+2.7% vs the 7 previous days) and 146,299 transactions, -1.84% compared to the previous period.
  • Services: 34.3 million visits, -9% compared to the previous period.
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2. Online conversation trends

 From March 10th to March 16th:
  • In the consumer goods sector, the activity has been significant and has steadily increased with more visitors seeking information: +15.6% conversations registered on our platform compared to the 7 previous days and a 14.3% conversion rate after a conversation.
  • The tourism and transport sectors are mobilized and reactive, they are available to handle the large number of customer queries with an average first response time of 3 minutes and 25 seconds and +37.3% conversations compared to the 7 previous days.
  • Query demands are remaining relatively stable in the services sector with +0.7% conversations registered compared to the 7 previous days and 3.7% conversion rate after conversation.
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3. Insights: coronavirus, the number 1 concern in the tourism industry

Today, globally, 7.7% of conversations on the iAdvize platform are talking about this subject,
compared to 3% on March 10th. A peak of over 8.3% was registered on March 15th after various global announcements.
COVID conversations terms trends
In the tourism and transport sectors, which are particularly impacted, the Coronavirus is now the conversation topic in 40% of conversations.
 
The insurance sector has also seen a major increase in conversations regarding COVID-19, with close to a third of conversations relating to questions about the virus.

 

COVID graph conversations tourism
Between the 16th and 17th of March, we have observed an increase in consumer queries in new sectors:
  • consumer electronics (7% of conversations, x2.5 in 24 hrs)
  • marketplaces (5%, x5 in 24 hrs) 
  • DIY (6%, x3 in 24 hrs).
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4. Customer case study: automate conversations to meet high query demands

The Coronavirus crisis pushes businesses to innovate to alleviate doubts and to inform customers efficiently.

Some of our clients from the tourism and transport industries have chosen to use a chatbot on their “booking” website pages to handle customer queries regarding tickets or reservations.

  • The Coronavirus queries are redirected to a ticket with all the necessary information, as well as a page that is dedicated to COVID-19.
  • The specific questions are redirected to the “contact pages for a personalized response.
  • This partial automation has enabled one of our clients to resolve their query backlog issue in just a few days so that they can go back to their normal conversational strategy.

 

 

Sources:  iAdvize compiled data from the conversational platform from Feb. 22nd to March 17th and from March 10 to 16 2020.