- Huw Hughes |
March marked the fifth consecutive month of single digit online sales growth in the UK, growing just 3.7 percent compared to the same month last year, according to new data.
The latest IMRG Capgemini eRetail Sales Index revealed that for the first three months of the year, revenue growth for clothing stood at 2.6 percent growth, significantly down from last year’s 13.9 percent growth, due to a mix of supply outweighing demand, continued discounting and customers being cautious with spending.
Online retail sales as a whole increased by just 5 percent year-on-year in March, falling significantly below the 3- (+7.5 percent), 6- (+7.1 percent) and 12- (+10.2 percent) month rolling averages, subdued by a later Easter pushing back holiday spend. “March 19 growth at 5 percent may seem slow but we were up against a very strong March 18,” said Bhavesh Unadkat, principal consultant in retail customer engagement at Capgemini, in a statement.
“More concerning is the overall position of clothing – which continued its five-month run of single digit growth (+3.7 percent for March 19). Many of the larger, often reliably robust, retailers also recorded low single-digit growth. Closing out Q1, clothing now stands at 2.6 percent growth, significantly lower than last year’s 13.9 percent growth. This performance is a mix of supply outweighing demand, continued discounting and customers being cautious with spending.”
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