Online sales growth in October
These figures represent a 14% rise on the same time last year, and a 7% increase on September 2011.
The travel sector is continuing to suffer due to economic uncertainty, with a 17% decline on September’s already very weak result. However, the average spend in October reached £920; the first time it’s broken the £900 mark since the sector was first tracked in December 2008.
Other sectors performed better in October. However, sales of electrical goods bounced back with a year-on-year growth of 11%, the highest recorded since April 2011. This could be a direct result of heavy discounting from retailers as they look to reinvigorate interest amongst shoppers; in January 2011 the average spend on electrical goods reached £173, compared with just £153 in October.
Other areas that experienced strong sales include health and beauty, which recorded a year-on-year increase of 53%; the highest growth ever recorded for the sector. Alcohol also saw impressive online sales, reporting a significant 27% growth on September 2011 and up 20% on October last year.
The 14% rise recorded for October suggests the Index will meet IMRG and Capgemini’s recently revised prediction that the total market will close the year on 16% annual growth. This result will be helped, in part, by the strong online sales predicted for Christmas - an estimated £7.75bn will be spent during the five-week shopping month of December (starting w/c 28th November), almost half of which (£3.72bn) will be spent in the first two weeks alone.
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