Web Sales Return to Pre-recession Highs
Internet sales in July increased by almost a fifth on last year and continue to outstrip the high street, research from e-retail group IMRG (Interactive Media in Retail Group) has revealed.
Their Q2 online sales index found that online sales rose by 18% in the 12 months to July 2010, the biggest increase since the downturn began in 2007. It also highlighted that web shoppers spent a total of £5 billion in the UK in July, more than any other month this year.
The survey found the boost had been helped by consumers taking advantage of last minute internet holiday deals to escape the disappointing British summer.
IMRG also said the results indicated that online sales have reached a turning point after the lows of the last two years.
“Although online retail sales survived the recession more convincingly than the high street, the last two years or so have no doubt been shaky at times,”
said Chris Webster, head of retail consulting at Capgemini, which publishes the online sales index together with IMRG.
IMRG managing director, David Smith, said that with more than half the UK population online at least once a day, it was no surprise that online sales continue to grow year on year.
“The evidence mounts that high street retailers will need to invest more in their online business and put it at the heart of their strategy.”
However, independent e-commerce consultant, James Gurd, said that not all businesses should focus their efforts on online sales.
“If firms decide to concentrate on online sales, they should have a clear strategy, no matter what size their business.”
For further business advice read 10 Tips to Setting Up Shop Online.