UK Online Retail Sales Report summary
September 2023
Period covered: Period covered: 30 July – 26 August 2023
3 minute read
Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.
Online Retail sales
Online retail sales growth rose xx% YoY in August (value and non-seasonally adjusted), easing on the previous month but ahead of the three-month average (xx%).
Average weekly sales totalled £xxxxwhich is the lowest since xxxxx.
Performance was influenced by several key drivers including weak annual comparisons, unseasonal weather, discounting and feel-good events:
Annual comparisons: Weak growth in 2022 is flattering August’s performance. A year ago, headline inflation was heading towards double-digits causing confidence to plunge and discretionary incomes to shrink.
Unseasonal weather conditions: Following July’s washout month, August’s weather improved, albeit unremarkably, with temperatures rising on the previous month but remaining lower than a year ago.
It was an unsettled month overall, with only one notable hot day on the 10th. However, this followed the first of two storms with Storm Antoni bringing the strongest August winds in 30 years at the start of the month.
Storm Betty also brought wet and windy conditions (18th/19th) which resulted in it being the wettest August in three years (Met Office).
Feel-good events: The strong performance of England in the Women’s World Cup as well as the release of the Barbie movie supported growth in the Food and Clothing and Footwear categories.
End of season discounting: July’s disappointing weather meant some retailers had to increase discounts in August to shift summer lines ahead of new season stock being introduced.
During the drier, warmer days consumers ventured out with footfall across retail destinations rising 0.2% from July, with the gap from pre-pandemic footfall levels narrowing to -11% in August from -12.1% last month (Springboard).
Resultantly. the online penetration rate eased to xx%, the lowest level for a year.
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Online penetration edges higher
Source: ONS, Retail Economics analysis
