We’re back in recession! But ecommerce bucks the trends.
The Government announced today that the British economy is officially back in recession. That means that we’ve seen two consecutive quarters of negative growth. Britain was last in recession in 2009 and this is the first so called “double-dip” recession since the 1970s. Not good news for anyone.
On a cheerier note though, ecommerce is in rude good health, according to the IMRG Capgemini e-Retail Sales Index. In March, consumers spent £5.8bn online, up 14% year on year and 9% up on February. The IMRG suggest that early sunshine and Mothering Sunday contributed to the healthy numbers. Mobile commerce also did well: up 254% YoY.
The Office for National Statistics say that internet shopping now represent 8.5% of all retail sales (bar petrol) and confirmed the trends in a seperate report. The ONS say ecommerce increased 15.2% YoY in March .
How is this year shaping up for your ecommerce business? Does a return to recession trouble you?
Nope, we just need to be content with having less stuff. I am not sure why we constantly need to grow and kill ourselves with capitalism.
What is scary is the rise in survival household costs. Essential services seem to be rising at an alarming rate so that these companies show massive growth/profit.
“Does a return to recession trouble you?”
We never left it… 🙂
I love the recession…..if it keeps interest rates low (mortgage, bank loan…thats what is important to working class people)