Online shopping rises 5,000% in 9 years
UK consumers have spent £200 billion online since 2000. The online retail sector has seen growth in sales of 5,000% in the past nine years, according to the IMRG Capgemini Index Special 9th Anniversary Report.
Since the launch of the retail index in 2000, UK consumers have spent £200 billion online, rising from £0.8 billion in 2000 to an estimated £43.8 billion last year.
Yet while the IMRG Capgemini Index has recorded growth of 5,000%, during the same period the ONS Retail Sales Index, which tracks UK high street sales, recorded a growth of just 21% - illustrating the substantial take-up of buying online.
Tina Spooner, Director of Information at IMRG said: “When we entered the 21st Century internet shopping was in its infancy. Nine years later e-retail has not only become a channel of retail choice for consumers, but a way of life for many…Internet shopping is clearly the bright spot in the UK retail sector but this industry is still young and has great potential for further growth.”
One sector that has performed consistently well is that of the clothing market, increasing by 1990% since February 2001, and outperforming the total e-retail market and all other online sectors in terms of Index value throughout 2008.
The latest e-Customer Service Index survey by eDigitalResearch and IMRG also confirms a positive outlook for the online fashion industry. Just under half of consumers surveyed said they are currently spending the same or more on fashion despite the recession, with 76% intending to continue spending the same or more online during the coming year.
The electricals sector has also been particularly strong in the past 3 to 4 years, recording a growth of 877% since February 2002. Sales of beer, wines & spirits have steadily been increasing over recent years, showing seasonal spikes during November and December. The online gifts sector has been quite volatile since it launched in September 2002, showing a large spike at the end of 2006. However, overall this sector has remained fairly static, growing just 19% since 2002.
Overall annual growth between April 2006 and April 2007 was 54%, between April 2007 and April 2008 30%, but between April 2008 and April 2009 the Index shows the UK e-retail market grew by just 14% – not surprising given the state of the wider global economy.
Over 100 e-retailers regularly contribute data to the IMRG Capgemini Index – for a full list, click here.
