Strong post-Brexit online sales growth
The latest IMRG Capgemini eRetail Sales Index indicated an online sales growth of 16% year-on-year (YoY) in September. The September growth rounded off a strong quarter, with the Index recording the highest quarterly growth (17%) since Q1 2014. And of course this quarter coincides with the period following Brexit.
Justin Opie, managing director, at IMRG: “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, Capgemini, added: “It’s encouraging to see that consumer confidence remains strong. However, 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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