UK online retailers maintain strong start to year with fab Feb
With a coronavirus lockdown still in place, and non essential physical retailers closed, UK e-commerce sales rose by 69.5% YoY in February, according to research from IMRG and Capgemini.
Though falling short of January’s record breaking +74% growth, February’s figures were still significantly higher than the rolling averages of three, six and twelve months (+57.1% +42.5% and +42.7%, YoY respectively).
Also of interest: Covid hit UK retailers return to growth but concerns remain
Beer, wine and spirits and home and garden saw huge spikes in sales, recording monthly gains of +64.7% and +131% YoY.
After a tough 2020, clothing sales also continued last month’s upward trend (+21.3%) and even footwear – the subcategory worst hit by the pandemic – reported growth of +8%.
New normal
Andy Mulcahy, Strategy and Insight Director, IMRG, says: “It’s become common for people to look for the ‘new normal’ across industries, but it might be too early to be focusing on that.”
“Instead, it is more useful to think of a ‘current normal’ as things are still so unpredictable and susceptible to sudden shifts in customer behaviour.”
“For example – even though there is a roadmap out of lockdown and the vaccination programme is going well, it’s difficult to anticipate exactly how people will behave as restrictions are eased.”
He adds: “The ‘current normal’ in retail is for sustained pandemic high growth rates across almost every product category. During lockdown one (22nd Mar-15th Jun), the average rate of growth was +47%; for lockdown three (27th Dec-now) it is +74%.”
“That rate of growth cannot be sustained once we get into April, but the extent to which spend will be diverted strongly away to ‘experience’ options such as travel, going out, live events etc. is a very tough question to answer.”
