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.”
