Online spending growth returns to pre-recession levels
Online spending in July hit £5bn as growth reached the highest levels since 2007, according to research from IMRG/Capgemini.
The figures for July represent the largest amount of online spending in any month of the year, with the wet weather at the end of the month attributed to the strong sales.
The IMRG Capgemini e-Retail Sales Index says growth in travel sites rose by a third as a result of Britain receiving over twice the average rainfall at the end of July.
The £5bn in spending in July marks an 18% year-on-year growth, the highest yearly growth in the month of July since 2007.
Capgemini retail consulting and technology vice president Chris Webster says: “Although online retail sales survived the recession more convincingly than high street sales, the last two years or so have no doubt been shaky at times.
“It is really encouraging to see growth levels returning to those seen pre-2007 and before consumer confidence was knocked by the financial crisis and recession.
“The stand-out result this month came from the travel sector, which was boosted by shoppers taking advantage of last minute deals to escape the disappointing summer.”
Between June and July online spending grew by 14%, the highest monthly growth of 2010. Though the travel sector recorded strong growth, alcohol sales took a plunge as the World Cup came to an end.
The health and beauty sector and gifts sector were the other two sectors to drop month-to-month. However, all the sectors recorded year-on-year growth compared to July of last year.
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