Key Takeaways
• Online revenue was 98% higher in November than in January
• Last month’s sales were 43% higher than those of November 2017
• Customers spent $6 more per online order than last November
Menswear retailer Bonobos received some recognition recently, as YouTube viewers voted its barrier-breaking “Evolve the Definition” ad one of the seven best of the year. That’s good press for Bonobos, which had suffered after its June 2017 acquisition by Walmart, seeing online visits decline by 12% in the remainder of that year. The retailer is competing in an expanding market: according to data from Euromonitor, menswear sales growth is outpacing that of womenswear. To find out how Bonobos has fared since summer 2017, Edison Trends analyzed online sales data in order to see how Bonobos has fared since summer 2017.
Sales at Bonobos are looking better than they were sixteen months ago. November revenue was up 74% over August of last year, and 98% over January. Orders were also up in November, bettering August 2017 by 48%, and showing an increase of 25% over November 2017.
Figure 1a. Bonobos Online Revenue and Orders, Last 16 Months shows estimated trend of online revenue and orders according to Edison Trends. "1x" means "1x the amount during August 2017."
Bonobos saw more sales this fall than in the previous one. The biggest increase occurred in November, with 43% more revenue than last year. Also impressive, August and October saw about a 25% increase in sales, and September improved by 10%.
Figure 1b. Bonobos YOY Increase in Online Revenue by Month shows estimated increase in online revenue by month, according to Edison Trends.
Customers spent less per online order on average this year during August, September and October, but spent $6 more per order in November than they did last year. The average spend was between $195 and $252 for each of the months examined.
As the holiday shopping season continues, look for more research and insights from Edison Trends.
Figure 2. Bonobos YOY Average Spend per Online Order by Month shows estimated average cost shoppers paid per order, according to Edison Trends.
As the market evolves, we will continue to stay on top of the latest trends. To learn more about how Edison Trends can help your business, contact us at bizdev@edison.tech. For more up-to-date insights in the e-commerce space, be sure to subscribe to our newsletter, and follow us on Twitter at @EdisonTrends.
*The data shown is based on a sample of anonymized and aggregated e-receipts from millions of consumers in the United States.