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Online retailing analysis from Retail Week
Comprehensive review of online retail trends from a macro perspective, courtesy of Charlotte Hardie.
Lots of great nuggets:
* While many of its high street luxury counterparts are struggling, Net-a-Porter's performance reflects the fact that the world of online is significantly more recession-proof – and not just in luxury but across the board.
* Figleaves chief executive Julia Reynolds says: "We're far from resilient. All our customers are cautious; people are trading down and they're looking for a bargain." However, it is far more buoyant than the high street.
*But this is not to say that retailers can simply assume their online businesses will continue to grow. They need to keep improving the service they offer and the look and feel of their websites in order to keep attracting customers and encouraging them to increase their spend.
* "If you don't continue to invest in relatively modest numbers then it will come back to bite. You can very quickly become a laggard in this business unless you make the right investments."
And in summary: What recession?
- Most online consumers in the UK – 51 per cent – are cross-channel shoppers
- Broadband penetration is still growing
- People are shopping online to find better prices and save on fuel
- There is greater confidence in online security
- Generational change alone will expand the market by several hundred thousand people a year, as young adults are much more likely to shop online than their grandparents.
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