2018 Q2: The second quarter of 2018 showed a strong growth for our e-retailers

2018 Q2: The second quarter of 2018 showed a strong growth for our e-retailers

During the second quarter of 2018, the growth of our webshops has gone back to a stronger rate. Our e-commerce index increased by 20% compared to the same period last year. The last time we saw this strong growth was during the third quarter of 2016, so the growth is back to a stronger rate after two years of a more moderate period. The biggest reason for the strong growth this time was the average order value, which was unusually high.

The average order value this quarter was 172€ while it has been 110€ during a longer time period. "The reason behind the high order value is most probably the increase in online B2B shopping and also the consumers' buying behaviour. It's no longer a matter of just trying out online shopping, but more of a natural part of the regular shopping behaviour and then it's more likely you would buy more at the same time", says Vilkas Group's CEO Markku Korkiakoski.

The average order value was 172€

The number of orders increased by 8,5% compared to the same quarter last year. That rate has been on about the same level for the last two years. The sales in the webshops increased by 28,8% and as previously mentioned, it's mostly because of the high increase in the average order value.

It will be interesting to see how our e-commerce index moves during the third quarter when we should be able to see if the average order value will stay on the same high rate or if there was an unknown factor that caused the sharp increase during this quarter.

Report archive

Vilkas' e-commerce index

Vilkas' e-commerce index

Vilkas Group's e-commerce index is calculated 4 times a year. Our index is based on the amount of orders, the total sales in euros and the average order value.

Average order value

The average order value in euros. Other currencies have been converted into euros.

Order index

The order index shows how the amount of orders in the shops have evolved since 2006.

Sales index

The sales index shows how much the sales value (in euros) has increased in the shops since 2006. Other currencies have been converted into euros.

The shop product categories

Vilkas Group's e-commerce platform is an industry-independent platform used by 1700 companies in different sizes. The webshops that our e-commerce index is based on come from a wide range of industries and companies of all sizes. About 10% are B2B webshops and the rest, around 90% are B2C webshops.

What is Vilkas' e-commerce index?

Vilkas Group publishes their e-commerce index quarterly, which gives a good picture of the e-commerce development in the Nordics. The data behind the e-commerce index is collected from Vilkas Group's customers' web shops since the beginning of 2006. Our e-commerce index also gives an idea of the online shopping behavior based on hundreds of thousands of end-customers' transactions each quarter.

Why e-commerce index?

Our e-commerce index is based on actual statistics from our webshops and gives a good picture of the development. Vilkas Group's most important goal is to help our e-retailers succeed and what is then a better guide line for all of us than our e-commerce index. By looking at Vilkas' e-commerce index you could also get an idea of the e-commerce business development as a whole in the Nordics.

Vilkas' e-commerce index scope and objectives

Our e-commerce index measures the success and activity of the webshops. Our index is based on actual numbers from Vilkas Group's customer base. It also gives a picture of the end customer's online behavior, based on actual numbers. We will continue to develop our index in order to provide e-retailers with a meaningful picture of e-commerce development also in the future.

How we calculate our e-commerce index

Vilkas' e-commerce index = [(0,8*Sales index) + (1,2*Order index) + (Average order value index)] / 3

The things concerned by Vilkas' e-commerce index are the change in sales (in euro), the change in the amount of orders and the average order value. For security reasons we don't collect data from individual shops for our index.

For more information about our e-commerce index, please contact us!

The material about Vilkas' e-commerce index shown on this page can be freely used as long as Vilkas Group's name is always mentioned as a source.

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