Online retail sales back on track in July
Figures released by IMRG and Capgemini in their E-Retail Sales Index have shown that online sales recorded annual growth of 14% in July.
The index increased by 3% month-on-month, compared to the 5% decrease seen between May and June. In addition, an estimated £8.1 billion was spent online which was a significant increase on the £7.1 billion spent during the same period last year.
The electricals sector reported some of the biggest year-on-year growth with sales surging by 19% in July compared to 7% in June.
The home and garden sector was another strong performer with sales rising by 17% in July compared to growth of 8% in June.
Meanwhile, the travel sector recorded its strongest July performance since 2010; 13% year-on-year. This also follows four consecutive months of single-digit annual growth, averaging at just 5%.
Tina Spooner, chief information officer at IMRG, said: “With the July Index performance back to solid double-digit growth, it appears the disappointing results in June were merely a blip.
“It is evident that consumers are now spending more money online, and the increase in high-ticket purchases including electrical items, furniture and holidays, indicates that consumer confidence is certainly increasing. The UK online retail industry is, once again, performing close to our growth forecast and we are still on track to see in excess of £100 billion spent online for the first time this year.”
Adgild Hop, head of retail consulting UK at Capgemini, added: “With the recent positive noises about the UK economy, this month we have seen that consumer confidence appears to be improving, with a strong increase in big-ticket transactions in Travel and Electricals in particular. Retailers will no doubt hope to see this trend continuing for the remainder of the year and into Christmas.”
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