14% Growth in UK Online Sales

News Article - Friday, 22 August 2014 17:30

By: Kerry Butters Category: Connectivity

The IMRG’s (Interactive Media in Retail Group) most recent figures reveal that UK online sales have shown an annual growth of 14% as of July. This is welcome news coming after a disappointing end to the half year, which resulted in a 5% decrease between May and June.

It is estimated that £8.1 billion was spent online, displaying a significant increase on the same period last year at £7.1 billion.

Significant growth has been recorded all around various sectors. The home and garden sector, no doubt spurred on by the driest July since 2006, grew to 17%, recovering from its unimpressive 8% growth in June.

Having recorded its strongest performance in July since 2010, the travel sector managed to finally shake off its single-digit growth slump, averaging at a meagre 5%, to 13% growth year-on-year.

The electrical sector also enjoyed a significant hike, jumping up to 19%, following on from a year-on-year increase of just 7%.

This puts the UK still mightily on track to see, for the first time, in excess of £100 billion spent online this year, the standing record set in 2013, which showed annual online sales amounting to £91 billion.

The figures show an increase in consumer confidence, following on from a slight blip in June, but the double-digit growth seems firmly set to continue for the time being. This makes ecommerce is set to make its most significant contribution to overall retail growth to date.

The British Retail Consortium (BRC) also track the growth, noting that the increase to 14.9% displays a "clear acceleration” from the 9.9% in the same period one ago. The increase is put down in part to the expanding use of mobile and tablet devices, as well as to the increasing sophistication of websites for selling their products.

The IMRG Capgemini Index , started in April 2000, tracks the online sales across 100 leading retailers.

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