UK Online Retail Growth Outpaces High Street
Retail spending on the internet outpaced that in the High Street in the UK during June, growing 5.9% to £563 million, according to the latest data from the Interactive Media in Retail Group (IMRG).
According to data from the Office of National Statistics (ONS), June’s High Street sales saw their largest monthly decline since February 2000, down by 0.7%; this was also the first two consecutive months of decline in four years, says IMRG. Year on year, High Street sales were up 4.6%; online retail grew by 106% over the same period.
Growth rate increases The IMRG’s index of e-tail spend has continued to show faster growth throughout the first half of 2002 than in 2001, with sales up across all sectors. Bad weather in June this year seems to have helped drive people online to do their shopping.
