For the first time ever, IMRG has produced a report outlining the performance of the fashion industry as a standalone e-retail sector – supported by Silverpop.
The fashion category of the IMRG Capgemini e-Retail Sales Index grew by 258 percent between January 2009 and December 2013 and has outperformed the other sectors in four out of the past five years. With total e-Retail sales topping £91 billion in 2013 and representing 21 percent of total retail, online is now a key driver for growth in any retail business.
Andrew McClelland, Chief Operations and Policy Officer at IMRG, says we have seen changes in the way consumers buy clothing, such as the rise of mobile devices and click and collect, which have contributed to an increase in confidence when shopping online: “This report will help fashion retailers understand industry-wide trends and how they might affect their sector and own performance.”
Fashion retailers were slower off the mark in the early days of online for a variety of reasons but today, e-Retail represents major opportunities for both Multichannel and Pureplay fashion retailers. Growth of nearly 17 percent in 2013 and a continuing strong positive trend would indicate that 2014 will be another year of ‘step-change’ for the industry.