ESP Industry Index - November 2024
- Brad de Waal
- Dec 22, 2024
- 1 min read
Average Spend on Retail:
1. Year-on-Year (YoY):
• The average spend on retail products in November demonstrates steady growth over the years, with the current year showing a significant increase compared to prior years.
• This growth highlights successful retail strategies such as upselling, bundling products with services, or introducing higher-priced products.
2. Month-on-Month (MoM):
• The jump in average retail spend from October to November is more pronounced compared to services. This aligns with the spike in Total Retail Revenue, indicating that November promotions, gifting trends, or bulk purchases drive higher retail spend per client.
Combined Observations:
1. November as a Peak Month:
• Both services and retail show increased average spend in November, reinforcing its position as a high-revenue month due to a combination of higher client visits and increased spending per client.
2. Retail vs. Service:
• The average retail spend grows more substantially than average service spend both YoY and MoM, suggesting that retail contributes disproportionately to revenue growth in November.
• Clients appear more inclined to spend on retail products in November, possibly driven by holiday-related factors like gifting and promotions.
3. Revenue Drivers:
• Growth in service revenue is supported by both increased client visits and slight increases in average spend per visit.
• Retail revenue growth, on the other hand, is more strongly influenced by significant increases in average spend, emphasizing the effectiveness of retail campaigns during November.
Email: info@espconnect.africa
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