RE: Online looks just fine....25 Oct 2021 19:56
"Online spending values increased in September 2021 by 0.5% when compared with August 2021, largely because of an increase in department stores sales values (3.8%). The monthly increase in online spending values resulted in a slight increase in the proportion of online sales, which increased to 28.1% in September 2021, from 27.9% in August.
This remains far higher than the proportion of online retail spending in February 2020, before the coronavirus (COVID-19) pandemic, of 19.7%, although it is below the peak pandemic level of 36.6% reached in February 2021."
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Very interesting figures above, pre pandemic online shopping rate was 19.7pc then mid pandemic it hit 36.6pc but have now settled at over 28pc.
This is an absolutely massive boost to online spending when put into perspective - it means online retailers revenue will go up by 30 percent against pre covid ....
When you consider boohoo was comfortably growing above the guided 25 to 30 percent growth per year with online having under 20 percent of shoppers online you then start to realise what's really happening....
Covid has accelerated the move to online shopping....
No wonder boohoo made this statement..."Consumer demand has been improving through August, principally in the UK but also in key overseas markets such as Ireland and France, where there has been a re-acceleration in the rate of growth. This has again improved in September, where the rate of gross sales growth has increased compared to that achieved in the second quarter of the financial year.
Our expectation is for full year sales growth of 20% to 25%, implying sales growth of 20% to 30% in the second half of the financial year. As we have indicated above, we have seen a re-acceleration in the rate of growth compared to that achieved in the second quarter."
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