Big increase in UK online sales tracked by IMRG Capgemini
Estimated £8.1 billion spent online
By Antony Savvas | Computerworld UK | Published: 09:35, 22 August 2014
The latest figures from the IMRG Capgemini e-Retail Sales Index reveal that UK online sales are back on track following a poor end to the half year.
The index shows annual growth of 14 percent in July. The Index grew three percent compared to the previous month, which is a stark contrast to the five percent decrease experienced between May and June.
An estimated £8.1 billion was spent online, a significant increase on the £7.1 billion spent during the same period last year.
Related Articles on Techworld
Adding to recent evidence of consumer confidence in the economy, the travel sector recorded its strongest July performance since 2010 - 13 percent growth year-on-year. This also follows four consecutive months of single-digit annual growth, averaging at just five percent.
This return to growth in "big-ticket items" was also seen in the electrical sector which, following a year-on-year increase of just seven percent in June, shot up to a significant 19 percent in July, shaking off a post-World Cup slump.
Another sector that recorded impressive growth last month was the home and garden sector, which recovered from its unspectacular 8 percent growth in June, to a very solid 17 percent in July. This was no doubt helped by the warm weather - the driest July since 2006.
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."
He said: "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."
The IMRG Capgemini Index, which was started in April 2000, tracks online sales across over 100 leading retailers.