Weekly online spending hits £1.1 billion
29 September 2017 - 09:11 by Graham Miller
New figures published this month by the Office for National Statistics show that British consumers are shelling out a combined average of £1.1 billion each week via safe shopping online at the moment.
An estimated 16.4 per cent of sales made across the retail market can be attributed to web-based outlets. Now, as with similar studies by other organisations, it has become clear that certain segments of the market are faring better online than others.
The 20.1 per cent growth in the sales of fashion items and footwear is much higher than the average growth of 15.6 per cent seen across the e-commerce market as a whole. Meanwhile, department stores that offer safe shopping online made even greater progress, enjoying a 24.5 per cent uplift to sales.
As a whole, the UK’s retail market grew by one per cent last month, a modest increase which once again indicates the vital role that the internet is playing in sustaining outlets of all sizes.
The rise in the popularity of department stores shown in this report is also being highlighted as an important trend to watch, according to Internet Retailing. Experts believe that consumers are flocking to these multifaceted firms, both on the high street and online, because they are finally starting to get pricing right in the e-commerce age.
The fact that department stores combine a variety of retailers and brands under one roof may also be chiming with consumer expectations, as the internet provides unfettered access to thousands of different brands and this is not easily replicable in bricks and mortar locations.
This study is being taken as yet another sign that the UK’s economy is stabilising after a few wobbles earlier in 2017 although, in reality, the year end results will paint a better picture than is available at the moment.