Online sales are back on track, rising 14% last month following a disappointing September, helped by a dramatic rise in lingerie sales, according to the latest figures from the IMRG Capgemini e-Retail Sales Index.
The Index grew 7% month-on-month, which is the highest level of growth between September and October for four years.
The growth was boosted by a number of key sectors, but it was the solid performance recorded by clothing which made the most impact, IMRG said in a report today.
After its lowest ever annual growth in September (0.3%), sales were up 13.5% year-on-year, with the lingerie sub-sector recording an impressive 40% jump on last year.
Excluding Travel, the UK online retail sector grew 16% year-on-year, resulting in year-to-date growth of 17%, as per IMRG and Capgemini’s 2014 growth forecast.
An estimated £8.8 billion was spent online in October, the highest market value since December 2013 and a further indication that the 2014 Christmas shopping period has started.
IMRG chief information officer Tina Spooner said: “The welcome return to double-digit growth last month follows the poor September results, when the online retail industry was adversely affected by the unseasonably mild autumn temperatures.
“Despite the fact we appear to be seeing a levelling off in consumer confidence, a number of factors indicate that the online retail industry is likely to see a strong festive trading period. E-retailers appear to be more confident in their growth predictions for the fourth quarter, shoppers are spending more per online transaction than last year and our latest research reveals almost half of consumers will order gifts online less than a week before Christmas Day.“