Online retail sales falter as clothing and electronics face challenges
- Online retail sales growth rate fell to 3% year-on-year in August
- Clothing and menswear saw positive growth, while electricals and gifts continued negative trends
- Mobile sales showed renewed growth in 2019
- Retailers should focus on mobile customer experience for potential market share gains
Online retail sales growth slowed to a meager 3% year-on-year in August, according to the IMRG Capgemini eRetail Sales Index. This follows the lowest July growth on record. The results fell below the five-year average of +9.6%, as well as the three-month (+5.3%) and six-month (+3.8%) averages. Clothing sales were a bright spot, up 9.1% from last year, with menswear seeing a 21.9% increase and footwear growing by 7.3%. Electricals and gifts continued their negative growth streaks (-22.5% and -30.3%, respectively). Bhavesh Unadkat of Capgemini noted that mobile sales have shown improvement in 2019, with a +14% increase in August compared to last year. Retailers should focus on enhancing mobile customer experience and secure payment options for potential market share growth.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the latest IMRG Capgemini eRetail Sales Index report, including specific percentages for various categories and offers insights from an expert in the field. It presents data and analysis without any sensationalism or personal opinions.
Noise Level: 3
Noise Justification: The article provides relevant information about retail sales figures and trends, but it could benefit from a broader context or analysis of factors affecting these trends, such as economic conditions, consumer behavior, or competition from other industries.
Financial Relevance: Yes
Financial Markets Impacted: Online retailers and related companies
Financial Rating Justification: The article discusses the low growth of online sales in August, impacting various categories such as clothing, electricals, gifts, and mobile sales. This information is relevant to financial markets as it affects the performance of online retailers and their stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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