Online retail spending back on track
Latest figures suggest online sales are back on track following a disappointing end to the first half of the year, with an annual growth of 14% in July.
The MRG Capgemini e-Retail Sales Index rose 3% month-on-month, which is a stark contrast to the 5% fall experienced between May and June. An estimated £8.1billion was spent online; a significant increase on the £7.1 billion spent during the same period last year.
The travel sector recorded its strongest July performance since 2010 with 13% year-on-year growth. This return to growth was also seen in the Electrical sector, which following a year-on-year increase of just 7% in June, shot up to a significant 19% in July – shaking off its post-World Cup slump.
Another sector that recorded impressive growth last month was Home & Garden, which recovered from its unspectacular 8% growth in June, to a very solid 17% in July. This was no doubt helped by the recent prolonged warm weather.