Online sales fell 5% during June 2014, according to the online retail association IMRG and consultancy company Capgemini.
This is the steepest May-June drop since 2008.
IMRG recorded sales growth of 9% in the year to June 2014, the lowest annual growth since July 2013.
Key findings:
- online sales increased 14% in Q2 2014, the weakest quarterly growth in two years
- electrical items (7%) and travel (3%) posted the weakest annual growth
- online sales grew 16% in the first half of 2014.
Chris Webster, head of retail consulting and technology at Capgemini, said:
“Online sales during H1 have been generally consistent with our earlier growth forecast of 17%, but at 14%, the lowest quarterly growth in two years, Q2 has been heavily skewed by June’s poor performance.
“The figures reveal just how influential a turbulent economy can have on our shopping behaviour. The current uncertainty around interest rates has resulted in a dip in consumer confidence, and as a result, we’re still happy to buy the everyday items, but we’d prefer to hold off on those expensive treats.”
This material is for informational purposes only and should not be relied upon as professional advice.
