ONS reveals post Brexit online spending up
Following sluggish sales in September, October’s ONS retail figures represented a welcome change for merchants. Exceptional growth was seen across all sectors, with online spending representing an astonishing £1billion of sales, resulting in a 1.3% increase since October 2015.
But for SKU Cloud sellers the news only got better. Giles Davies, Retail Director at The Games Collection, reports a 91% increase in sales, putting them at 89.7% above the national average. In October 2016, Flubit.com (the marketplace arm of SKU Cloud) had offered savings in excess of £9,000,000 to its user base, generating significant revenues for its sellers.
SKU Cloud are still relatively new in terms of marketplaces so we’d expect their growth to be faster than mature marketplaces like the two decade old eBay and Amazon. still a 91% increase in sales is impressive and shows that SKU Cloud and Flubit are gaining traction.
For merchants, or Seller Partners, SKU Cloud acts as a marketplace channel (similar to Amazon and eBay) helping them reach and sell to millions of online shoppers. Seller Partners integrate with SKU Cloud to make their SKU’s (stock keeping unit, or products) available in a central marketplace catalogue. These are then visible to numerous Destination Partners, offering these products through their own independent channels. SKU Cloud’s approach has two key differences to traditional marketplaces: they don’t charge any fees and they push the inventories of Seller partners to multiple Online Destinations, for example; newspapers, banks, reward schemes and more.
With over 1,500 merchants currently selling through SKU Cloud, The Games Collection are one of many retailers who have a lot to celebrate this month. But how did your business do compared to the national figures this October? Tell us how you did below.