Clothing Sector Takes the Brunt of Slowing Spending
- UK online retail sales growth hits lowest level since 2014 in September
- Clothing sector experiences significant drop in YoY increase
- Gifts see largest decline since March 2010
- Smartphone sales continue to grow, albeit at a slower rate
- Back-to-school and new season launches fail to attract consumers
UK online retail sales growth hit its lowest level since 2014 in September, according to the IMRG Capgemini e-Retail Sales Index. The clothing sector was particularly affected, with a YoY increase of only 2.2%, significantly below the 5-year average for September at 7.4%. Gifts saw a 23% drop YoY, the largest since March 2010. Smartphone sales continued to grow but at a slower rate than in 2017. The overall third-quarter growth came in at just +10.1%, down from the strong start of the year.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the UK online retail sales growth rate and its comparison to previous years, as well as specific sectors like clothing and smartphones. It also includes expert opinions from industry professionals. However, it could provide more context on the overall economic situation or other factors that may have influenced the drop in sales.
Noise Level: 3
Noise Justification: The article provides relevant information about the UK online retail sales growth rate and its various sectors’ performance, with some analysis from experts. However, it could benefit from more context on the overall economy or other factors that may have influenced the drop in sales, as well as a comparison to previous years’ trends.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the decline in online sales growth in the UK, which can impact companies and potentially affect stock prices of retailers.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
www.retailsector.co.uk