Online retail revenue growth “not in the healthiest place”

Online retail revenue growth has slumped 12% year-on-year, according to data from IMRG’s latest retail data show.

It is an uncertain period for retailer as they brace themselves against a number of headwinds including rising inflation and supply chain issues.

This prompted IMRG strategy and insight director Andy Mulcahy to say that the online retail space is “not in the healthiest place”.

However, average basket value (ABV) has risen in the past few weeks, reaching a record high of £146 in April.

The data showed that clothing was the only sector to see growth from February to May, seeing a 4.2% year-on-year.

Average basket value (ABV) of clothing orders were 10% up in the same period to £80.

All other categories saw a dip during the month of April, including electrical (-17.8%), home and garden (-22.8%), health and beauty (-32.5%).

According to Adobe’s “Getting ecommerce right in 2022” report, when viewing products online, consumers place easily read and transparent pricing at the top of the priorities when picking where to purchase goods from, with 63% of respondents saying so.

This was followed by accurate product descriptions (57%) and clear and high definition images (53%).

 

IMRG Retail Data Show 97

 

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