Online retail sales suffered in June, triggered by uncertainty around interest rates and the higher temperatures encouraging people to go outdoors.
Etail trade body IMRG and Capgemini’s e-Retail Sales Index said that retail sales recorded a 5% month-on-month decline in June – the steepest drop between May and June since 2008.
Year-on-year online retail sales increased 9% in June – the lowest annual growth since July last year.
Conversion rates increased 4.8% last month, the highest rate for June since 2008, while the average basket value was valued at £83 (excluding travel), up 5% from June last year.
The body also said online retailers overall enjoyed a positive first half of the year, with sales up 16%.
Capgemini vice president, retail consulting and technology, Chris Webster said: “The figures reveal just how influential a turbulent economy can be on our shopping behaviour. The current uncertainty around interest rates has resulted in a dip in consumer confidence, and as a result, we’re still happy to buy the everyday items, but we’d prefer to hold off on those expensive treats.”
IMRG chief information officer Tina Spooner said: “It’s fair to say June was not a good month for British sport and the poor performance in the electricals sector – with growth of just 7% year-on-year – suggests Britons were not too interested in buying new technology to watch the action, whilst higher-than-average temperatures and lots of sunshine kept customers outdoors.”