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Marketplace News
23 May 2011

novomind buying power index: online trading gathers momentum thanks to media and fashion

Index stable at 102.5 points in May

Buyers increasingly compare as prices rise

Healthy buying mood on the Internet
The trend in online trading in Germany is stable. The novomind buying power index for May 2011 stands at 102.5, higher than that than for January. Continuing positive demand, especially for books, other media products and articles in the leisure clothing and shoe segments, boost the online trading purchase index.

Fashion retail trade unaffected by rising prices    
With prices just 1 per cent higher than this time last year, the fashion business is benefiting above all from moderate, price trends in the clothing and shoe segments that are well below the general average. By contrast, the overall annual inflation rate last month stood at 2.4 per cent, a level last reached in October 2008.

Internet traders respond to consumers’ economy drives with special promotions
On top of this, as price levels rise, customers are comparing more before buying. Bargain hunters tend to find what they are looking for online more often than in store, resulting in a shift in business to the Internet, where prices are frequently much lower than in retail outlets. Special offers from niche online shops and live shopping portals are one reason for this. With impressive growth rates of well over 10 per cent, special promotions today contribute significantly to the increase in online sales.

About the novomind buying power index
The novomind buying power index is an indicator of what consumers expect from online shops based on a representative survey of Internet buyers. The respondent online shoppers correspond in age and gender distribution to the structure of the online population in general. The survey also tracks which products customers have purchased online in the past three months, and which products they plan to buy online in the next three months.

novomind AG
Since 1999, Hamburg company novomind has been developing innovative e-business solutions for the modern Internet world in four e-business disciplines: e-commerce (e-shops and zoom server), ePDM (electronic product management), e-marketplace (marketplace integration) and e-communication (solutions for contact and service centres).

novomind is a European technology leader in every service segment and covers the whole digital value-adding chain in retail and electronic customer communication. The Hamburg-based software house is the fastest growing company in the fields of electronic customer communication and mail management.

novomind also provides comprehensive consultancy services for people choosing a suitable IT system for e-commerce. Established licence software like IBM WebSphere Commerce Server is considered, as are custom-made novomind solutions based on novomind iSHOP.

novomind AG is currently assisting more than 80 companies including Targobank, Der Club Bertelsmann, Deutsche Rentenversicherung Bund, Ernsting’s family, EnBW, gebrüder götz, OTTO and QVC.