Why online shopping is getting bigger and better
Over the past couple of years, the shift towards online shopping has increased dramatically. While brick-and-mortar has fallen to historic lows. We have the data to prove it.
Everybody loves shopping - it’s an essential part of everyday life. What’s more, in the past couple of years, the retail world has been transformed in front of our very eyes. The shift towards online shopping has dramatically accelerated, while brick-and-mortar sales have fallen to historic lows. The numbers are stark.
The Covid pandemic is one obvious culprit; the rise in online shopping in the wake of Covid allowed the UK’s e-commerce sector to enjoy its fastest growth in 13 years. However, there are other important factors in play.
Total online retail sales growth for 2020 was up 36% year-on-year, the highest annual growth seen since 2007. The figures come from John Mulcahny’s report in the Capgemini Online Retail index.* With the year punctuated by lockdowns and restrictions on consumers’ way of life, the annual growth figure significantly outperformed the 7.8% prediction.
Looking ahead at the next 10 years
Half of UK retail sales will be online within 10 years, reports Sarah Butler at The Guardian.** "Online shopping could more than double its share of the retail market by 2028”, as the internet “is expected to account for 53% of retail sales in 10 years’ time, up from about a fifth at present”. One key driver of this change is that younger people who have grown up with the internet will become “more than half the UK’s adult population”, according to a report by the analysts Retail Economics.
Slash is here to help.
At Slash, we believe this trend will continue - and that online shoppers should be empowered as they become the dominant force on the market. Luckily, Slash is here for you. Don’t you just hate paying full price for your online shopping?
One option is to spend days searching every dark corner of the internet, attracting scammers and viruses just to get a tiny discount (O_O) . There’s nothing worse than typing in a coupon code you’ve finally found after hours searching, only to find out that it doesn’t work.
That's when Slash arrives to save the day. We’ve already explained just how Slash can help you to get instant savings with no fuss. With the Slash browser extension, you can spend less and save more!
All you have to do is just install the extension to your browser and start saving. Simple as!
(Pssssst! Don't forget that if you sign up now and invite a friend, you'll get £10 extra credited to your Slash account.)
* John Mulchany, Strong December Caps standout 2020 as online sales growth hits 13-year high, Capgemini Online Retail index
** Sarah Butler, Half of UK retail will be online within 10 years, The Guardian, 2019