Online sales hit new high
Online sales in the month of July increased by 1.1% compared to the figure for June, but jumped by a massive 18% compared to the corresponding period last year. In total the report by the Office for National Statistics shows that UK shoppers spent £5 billion online in July which was the largest year on year increase since 2007. So why are UK consumers suddenly finding favour with the online arena?
There is no doubt that the bad weather over the last few weeks has impacted upon many people's ability to get out and about, thereby increasing the attractions of online shopping. However, the two main factors which have led to the significant increase in online sales are competition and a trust factor which has never been higher.
There is no doubt that many consumers are now waking up to the fact that there are enormous bargains to be had online compared to off-line prices. The ability to pay with various credit cards, debit cards and other payment tools has also caught the eye of many as has the increased security issue which for so long blighted the industry. In many ways the off-line retailers are struggling to compete with "pure" online operations and we are likely to see more companies struggling in the short to medium term.
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