The online retail sector grew by 18% in the year to August 2014, according to e-retail industry body IMRG.
Around £8.1 billion was spent online between August 2013 and August 2014, the highest level of growth since November 2013.
The IMRG figures also show:
- the clothing sector recorded annual growth of 20%
- the accessories subsector grew by 60% year-on-year
- the home subsector has grown by just 1% since August 2013.
Separate figures published by the British Retail Consortium (BRC) showed that online sales of non-food products grew by 19.8% in August 2014 compared with a year earlier.
This is the highest growth recorded since the BRC started monitoring online sales at the end of 2012.
The BRC figures also show:
- 5% of total non-food sales were made online
- growth was evenly spread across all sectors
- online sales contributed 1.9% to the total increase in non-food sales.
Nigel Holland from Holland & Co Chartered Accountants said:
“The online growth of sales of 18% is very encouraging. I am anticipating that a £100 billion year will be exceeded in 2014 which is good news all round. I also anticipate that this trend will continue in 2015.
The Autumn/Winter 2014 launch of clothing range is part of the reason why there has been a 20% annual growth in the clothing sector. The UK is certainly well and truly out of the economic downturn and at my firm we are pleased to see local businesses prosper. The IMRG figures support the fact that businesses are doing well.”