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Industry News

Published on October 20th, 2016 | by The GC Team

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Post-Brexit quarter records strongest online sales growth since Q1 2014

New figures show that online sales rose 16% in September, despite the warm weather presenting a challenge for fashion retailers promoting autumn and winter ranges.

According to the IMRG Capgemini eRetail Sales Index, September’s performance topped off a strong quarter following the Brexit vote, with an increase of 17% being the highest quarterly growth since Q1 2014.

Justin Opie, managing director at IMRG, said: “The growth for Q3 2016 was the strongest quarterly growth we have recorded in two-and-a-half years, although it was building on a lower base of 9.6% during the same period last year.

“Nonetheless, online sales growth post-Brexit has remained strong – this may in part have been driven by increases in international shoppers buying from retailers’ .co.uk sites, so they can pay in sterling and get maximum benefit from the sharp shifts in currency we have seen over the past few months.”

Bhavesh Unadkat, management consultant in retail customer engagement design at Capgemini, said it is encouraging to see that consumer confidence remains strong. “However,” he cautioned, “a weak pound and an action plan on the horizon for Brexit is cause for concern and could well have a negative effect on confidence.”

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