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Discounting lifts online trading

Online fashion and footwear sales rose 17% to £429m in July as shoppers hunted for bargains from Sales on the internet and sought out items for their summer holiday wardrobes, according to the IMRG Capgemini e-Retail Sales Index.

July’s fashion and footwear sales showed an increase of 18% on June and continued to be the fastest growing retail sub-sector online. Total online retail sales rose 16.8% year on year to £4.2bn. 

The strong figures helped bolster City confidence in etailers such as Asos. Singer analyst Matthew McEachran said: “The data confirms our suspicions that there has
been recovery in the online market over the summer months, as also seen in the weekly John Lewis data. Over the next 12 months we
anticipate strong growth from [Asos’s] overseas markets, in particular the US.”

IMRG director of information Tina Spooner said: “Online retail continues to outperform the high street, with e-retail growth in July exceeding the yearly growth seen in July last year. Fashion and electrical retailers reported strong growth and these remain the key drivers of the UK e-retail market.

“It is evident that online merchants are becoming more sophisticated in their marketing efforts and email communications to their customers, the result of which can be seen in higher conversion rates, particularly in the clothing sector.”

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