On the heels of strong U.S. e-commerce numbers reported last week, the U.K. also showed significant growth in a recent report. Online retail sales in the U.K. increased nearly 19 percent in July compared to the same month last year, according to the IMRG Capgemini Sales Index. It was the largest increase in year-over-year growth since November 2014.
Strong numbers in the apparel sector, where sales were up 22 percent from July 2015, drove the overall surge. E-commerce pure plays and omnichannel retailers shared equally in the online bounty, growing 18 percent and 19 percent from last year, respectively. Despite higher-than-expected numbers, however, it’s not a given that the rest of the year will remain rosy for e-commerce, said Tina Spooner, CIO of IMRG.
“Year-to-date, U.K. online sales growth is ahead of forecast at +15 percent year-on-year (forecast was for 11 percent) but, while we anticipate seeing double-digit growth continue during August due to a weak performance for the same month last year, 2016 is proving to be a tough one to predict”, Spooner said. “Particularly given the referendum result and the fact we have yet to record any significant impact from it in the Index so far, while some other economic indicators have already revealed some degree of impact.”