Online vs highstreet.... seems an obvious pattern....4 May 2024 15:33
Internet sales as a percentage of total retail sales (ratio) (%)
March 2007 2.9%
March 2011 7.8%
March 2015 11.7%
Feb 2019 19.1% (No point using March 2019 as covid had already started)
March 2024 25.4%
Online Spending Grows Every Month in 2024, as UK Shoppers Spend £8.5bn in March
"The latest data from Adobe, powered by Adobe Analytics – based on actual online transactions rather than estimates or survey data – reveals consumer confidence and online spending power returning in the first quarter of 2024. UK online spending reached £8.5 billion in March 2024, representing a 3.7% increase on the £8.2 billion spent in March 2023, and follows YoY growth of 5% in February and 1.5% in January. With November and December also providing a strong end to 2023, we’ve now seen five months of consecutive online spending growth."
https://www.mordorintelligence.com/industry-reports/united-kingdom-ecommerce-market/market-size
"The UK E-commerce Market size is estimated at USD 280.55 billion in 2024, and is expected to reach USD 750.80 billion by 2029, growing at a CAGR of 21.76% during the forecast period (2024-2029). Source: https://www.mordorintelligence.com/industry-reports/united-kingdom-ecommerce-market/market-size"
Retail & Trade
High street retail in the United Kingdom (UK) - Statistics & Facts
The high street is the heart of many British towns and cities, traditionally where people can find their everyday needs, such as retail stores, cafes and restaurants, banks, groceries, and other local businesses. With Princes Street, Oxford Street, and Piccadilly Circus, the United Kingdom has some of the most frequented high streets in all of Europe. However, the central role of high streets has been diminishing, with a 2023 survey finding that the high street does not fulfill many consumers' needs and almost one third of consumers said their local high street is getting worse.
Declining popularity
One of the biggest changes associated with the retail industry in recent years has been the rapid growth in e-commerce sales, which account for more than one quarter of the country’s total retail sales. When asked to compare high streets, shopping centers, and online, the latter was seen to have the largest variety of goods and cheapest options. On the high street, yearly like-for-like sales actually increased at the beginning of 2023, but trailed off over the course of the year, and sales were 2.7 percent lower in December 2023 than the same month in the previous year.
Store closures
A symptom of declining sales and footfall has been the increasing number of store closures across the country. Within the past decade, a number of well-known high street businesses closed shop, such as Wilko, Cath Kidson, and Debenhams. 2023 saw a record number of failing medium and large retail companies, at 61. From 2015 to 2022, the net closures of chain retailers in Great Britain was in the thousands, meaning many more stores closed than opene
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