In wake of wider choice and price-transparency available on the Internet, UK’s online retail sales are forecasted to grow at the rate of 15% per month throughout 2009.
According to the IMRG Capgemini e-retail sales index, online spending in the UK rose 19% in January 2009 on YOY basis, as reported by Telegraph. Out of this, clothing, footwear and accessories segment saw the highest spending at 32% ac compared to January 2008 while electricals soared by 22%.
An annual growth of about 13% was observed in the online sales of beer, wines and spirits in January 2009, but the month’s revenue was 62% lesser than in December 2008. During the same month, YOY increase of 19.2% was observed in non-food and non-store sales.
The faster growth pace of online retail sales in the UK during January 2009 is chiefly attributed to the shoppers’ hunt for post-Christmas discounts on online shopping. British consumers are opting Web for a wider range of selection, price-transparency and to research prices. These benefits of online shopping tend to become even more significant in economically tough environment.
The index results indicate that amidst current challenging financial conditions, consumers are continuously using Internet for their advantage. It becomes even more crucial while searching best deals and promotions.
Furthermore, the uptrend in the online retail sales is expected to continue in coming months. According to Capgemini, online retail sales are likely to grow at the rate of nearly 15% per month throughout the current year. This prediction is grounded on the fact that Internet shopping offers far wider range of selection and price-transparency over the traditional shopping; thereby, attracting higher number of consumers in the UK.
According to a Research Analyst at RNCOS, “The current economical environment is helping the online shopping to gain popularity among the British shoppers, as evident from the January e-retail sales figures. The online retail sector has been witnessing a big shift with changing shopping pattern of the British consumers as they are increasingly acknowledging online shopping to be full of benefits as well as time- and money-saving. However, more sophisticated shopping patterns and higher consumer expectations indicate that retailers should have a comprehensive knowledge of their market and customer base to emerge as a winner in this challenging environment.”
Related Market Research Reports:
U.S. Convenience Stores Market Outlook to 2013
China Apparel Industry - New Opportunities for Growth
Russian Food and Non Food Retail Forecast (2009-2012)
