UK online shopping hits new highs in August 2016
Online spending in the UK hit £9.9 billion last month according to the latest IMRG Capgemini Sales Index for September 2016. That’s a mammoth 16.3% year on year increase based on August 2015.
The £9.9 billion shopping online during August, resulted in total estimated spend YTD 2016 reaching £80.0 billion – this is up from £69.6 billion in the period January to August 2015. Clothing sales are 20% up with fashion accessories up 48%.
Performance by High Street and multichannel retailers outperformed online online merchants in July this year, but in August the online only merchants bounced back with annual growth 9 percentage points higher than the multichannel group.
The IMRG say that figures are ahead of their forecasts for 2016 and Cap Gemini describe consumer confidence as reassuringly buoyant.
What does it mean for you? Well sales should have been strong in August. If not you have to ask yourself why not because consumers are spending and online only merchants are outperforming those who also have bricks and mortar operations.