The online retail market continued to see steady growth in October, recording a solid 15% year-on-year increase, according to the IMRG Capgemini e-Retail Sales Index. The key findings of the report are: • Online retail sales up 15% year-on-year in October • Total e-retail sector records conversion rate of 4.7%; highest since November 2012 • […]
The online retail market continued to see steady growth in October, recording a solid 15% year-on-year increase, according to the IMRG Capgemini e-Retail Sales Index.
The key findings of the report are:
• Online retail sales up 15% year-on-year in October
• Total e-retail sector records conversion rate of 4.7%; highest since November 2012
• Clothing sector records lowest annual growth in 2013
• Electricals experience highest annual growth in 2013
The figure is particularly positive as it follows a strong August and September, when online retail spend recorded 18% and 20% year-on-year growth respectively. The Index has recorded 16% growth in online sales year to date in 2013, compared to 13% during the same time last year.
The Index also revealed that conversion rates for e-retail as a whole continue to see an upward trend, with 4.7% recorded in October, the highest conversion rate since November 2012. In the six month period between May and October, total online retail saw a conversion rate of 4.6%, compared with 3.9% during the same period in 2012.
Chris Webster, VP, Head of Retail Consulting and Technology at Capgemini: “It’s great to see that m-commerce conversions are slowly increasing, but it’s important to note that conversion rates are still higher for laptops and PCs. Whilst tablet devices are used for sofa surfing in front of the TV and browsing on our smartphones is a perfect way of making use of the daily commute, when it comes to serious shopping, many of us still prefer the PC experience.”
Tina Spooner, Chief Information Officer at IMRG: “The month-on-month growth between September and October was actually far lower than is usual, at just 0.5% compared with the rate of 4-8% we have seen over the past 5 years. However, this is following the strongest online sales growth recorded between August and September in 13 years. Coming off the back of a strong comparator last October, the performance is still strong and bodes well for a positive Christmas for online retail.”
As a result of the unseasonably mild weather, the clothing sector in October saw its weakest performance in 2013, recording an increase of just 9.6% this month, down 4% on the previous month. Despite the slowdown in performance, the clothing sector has experienced a very promising 2013, with 17% year-to-date growth.
The electrical sector saw a major boost in online sales in October, thanks in part to the release of major consumer technology products, such as the new iPhone 5 and budget tablet devices introduced by high-street retailers including Tesco’s Hudl and the Argos MyTablet.
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