Retailers throughout the UK skilled a 40% enhance in product gross sales over the summer season of 2024, in response to information from e-commerce advertising platform Omnisend. The increase got here after a busy gross sales season in June, July, and August, with 237,000 extra gross sales recorded in comparison with the identical interval in 2023.
On-line retailers utilizing Omnisend noticed their whole income climb to £40 million, up from £33.8 million the earlier yr. Nevertheless, the information means that this income enhance didn’t match the surge in product gross sales, indicating that retailers slashed costs to draw extra clients. The elevated gross sales had been supported by a 140% rise within the variety of individuals opening summer season gross sales emails, as shoppers eagerly sought out bargains.
The Workplace for Nationwide Statistics (ONS) has reported regular development in UK retail gross sales, pushed by components resembling easing inflation and rising shopper confidence as disposable earnings improves.
Greg Zakowicz, senior e-commerce professional at Omnisend, highlighted the importance of this pattern: “Cost of living challenges remain for many shoppers, and this is reflected in how people are interacting with retailers. The search for genuine bargains is converting to a clear uplift in sales. A 40% increase in product sales is a shot of adrenaline for the retail industry after a lacklustre summer last year.”
Zakowicz warned that the subsequent few months could be vital for retailers as they put together for main procuring occasions like Black Friday and Cyber Monday. Whereas these occasions have grown in recognition, he famous that rising power costs and cuts to winter gas allowances may make some shoppers, significantly pensioners, extra cautious about spending throughout the winter procuring season.
He added, “Retailers must be competitive on pricing, especially when competing with e-commerce giants like Amazon, which typically dominate these events. Consumers are now wise to the marketing around these events and the reality that sales periods often offer minimal savings.”
Some retailers are additionally choosing extra constant, inexpensive pricing methods quite than counting on massive gross sales occasions, which Zakowicz believes might change into a extra well-liked method within the coming months as smaller retailers face financial challenges.
