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Online retail news in brief (20 June 2018)

By IMRG

In case you missed them, we’ve pulled together a few online retail news highlights from around the web this week.

Here are some of the latest stories in online retail.

 

Strongest May growth for online retail since 2010

May’s golden alignment of events led to a copious surge in sales, as scorching temperatures, a royal wedding, and the FA cup final lent themselves to a 19.4% year-on-year (YoY) increase, according to the latest figures from the IMRG Capgemini e-Retail Sales Index.

Prolific sales in the Footwear and Garden sectors led the way for the highest YoY growth for May since 2010.

Father's Day and World Cup score a boost to the high street

In traditional fashion, staunch England naysayers have changed their tune, and flocked to stores in droves with the complete conviction that football’s coming home. According to ShopperTrak, the UK economy is set to benefit from a £1.33bn boost during the global spectacle.

Alongside this, the Saturday prior to Father’s Day was predicted a 2% rise on the daily average, meaning a happy coincidence for the high street in June.

Steve Richardson, UK & MEA Director at ShopperTrak: ‘We know that both Father’s Day and the World Cup mean shifting patterns in shopper traffic –  for example, our data from the 2014 World Cup showed that footfall generally fell on each match day, but the day after a European national team was knocked out of the tournament, general retail traffic rose +3.41% on the daily average, as shoppers then got back to usual shopping behaviours.  With both events taking place over the same weekend, the impact on footfall will be even more pronounced, with shopper traffic up 2% on the daily average on the Saturday and then down 5% on the Sunday of Father’s Day itself.’

High quality football in high definition

Four years of speculation is finally over, and some fans aren’t willing to risk missing a single detail of the sporting masterclass. John Lewis reportedly sold 140% more big-screen TVs last Thursday (55in or more), with those numbers expected to increase.

Other football-oriented products are doing similarly well, with TV soundbars selling strongly, drinks fridges up by a fifth, and corner sofas at 220%.

Here’s to our boys in Russia providing justification for the nation’s expenditure.

Debit card payments more popular than cash

Technology has tipped the transaction scales, as debit card payments have overtaken cash use for the first time ever.

A total of 13.2 billion debit card payments were made, outstripping the lowly 13.1 billion cash payments. It is predicted that this is in large part due to the use of contactless payments, which doubled to 5.6 billion payments last year.

Adam Herson, a director at Barclaycard Mobile Payments: ‘We have seen a surge in the use of wearable and mobile payments, creating new, exciting opportunities for both shoppers and brands. Consumers are increasingly able to match their payment accessory or device to their lifestyle or fashion taste. We expect this increase in popularity to continue for the foreseeable future.’

Millennials would consider banking with Amazon

Extending its potential reach ever further, Amazon have been cited as a contender in the banking world, particularly among millennials.

In the interconnected, instantaneous world of today, young people are eager for rapid banking services, with 57% believing that opening a bank account should take no longer than an hour, and 47% believing that mortgage applications should take less than a day.

With speed as the optimum word, if new, faster, banking services were made available, a tectonic shift could occur; a grand exodus from the slower, traditional banks.

Danny Healy, Client Architect, MuleSoft: ‘Delivering a connected experience remains a challenge for many banks. As the research shows, those banks that fail to deliver a connected experience risk damaging customer loyalty at a time when it is easier than ever before for consumers to change banking provider. The traditional players can no longer afford to stand still and must ensure they can speed up their processes. Banks need to be able to unlock customer data from siloed systems and integrate their existing legacy systems with new digital technologies and channels.’

Bakewell pudding lost in stratosphere

A new object has joined the esteemed list of space-faring constructs which mankind has transported to the Great Unknown: a Bakewell pudding.

An ambitious science project from the pupils at St Anselm’s Preparatory School in Derbyshire went awry when they misplaced the delicacy somewhere in the stratosphere.

The homemade pudding took flight on Monday morning through the use of a high-altitude balloon, with the hopes of tracking the progress of its intrepid venture. However, the tracker went silent when the pudding was drifting over Saxilby, near Lincoln.

With the location of the dessert now a mystery, the nature of the rogue Bakewell is uncertain. Fortunately, however, an age-old debate has been put to bed: the Bakewell is officially the peak of puddings.

Bakewell Pudding

Peak of Puddings

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