IMRG Analysis Reveals Slowing Trends Post-Lockdown
- Online sales growth slows to pre-pandemic levels
- IMRG’s analysis tracks online sales for 200 retailers with £23bn sample size in 2022
- Growth of online sales negative each month since April 2021
- Overall market up by 17% compared to 2019, averaging 5.7% growth per year
- Andy Mulcahy: ‘pandemic, what pandemic?’
- Cost-of-living crisis impacts shopping behavior
According to the IMRG’s online retail index, online sales growth has slowed down to pre-pandemic levels. The analysis found that the growth of online sales was negative each month since April 2021. In 2022, online sales were down 10.5% year-on-year when compared to 2019’s 5% increase. However, when comparing the value of the index in 2022 to 2019, the overall market grew by 17%, averaging a 5.7% growth per year over three years. IMRG’s strategy and insight director, Andy Mulcahy, commented that the cost-of-living crisis has caused a shift in shopping behavior with conversion on retail sites dropping away throughout 2022. He also mentioned that the pandemic’s impact on online retail may have been a temporary blip.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the slowdown in online sales and includes expert opinions from IMRG’s strategy and insight director Andy Mulcahy. It also presents data and comparisons to provide context for the changes in online retail growth before and during the pandemic.
Noise Level: 4
Noise Justification: The article provides relevant information about the slowdown in online sales and offers insights from an expert in the field. However, it could have explored the reasons behind the shift in shopping behavior further and provided more data or examples to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Online retailers and related industries
Financial Rating Justification: The article discusses changes in online sales growth rates, which can impact the financial performance of online retailers and related industries such as e-commerce platforms and logistics companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but the article discusses the impact of the pandemic and cost-of-living crisis on online sales growth.
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