Industry news

E-retail is booming, says IMRG

Online retail is booming because of competitive pricing and strong marketing, one industry body has said.

IMRG – a global online retailing industry body – revealed the sector was enjoying continued growth while the high street is feeling the strain of the credit crunch because it is known the best prices can be found online.

David Smith, director of operations at the body, said consumers are willing to search for the best price due to the current financial climate.

"The top retailers that are online are a lot savvier and are able to better market the offers that they have online," he added.

Figures released today by the body in conjunction with Capgemini in their monthly e-Retail Sales Index found online spending last month was robust showing an increase of 1.6 per cent over April as sales reached £4.5 billion.

An average of £731 was spent online for every person in the UK – up 30 per cent from the same period last year.