Sportswear firm Nike has seen a huge rise in online sales as it bounces back from a coronavirus slump, with digital sales rocketing 82% during the June to August quarter, offsetting falling revenue in its stores.
Clothing retailer Joules has seen revenue from its ecommerce channel rise 63% in Q1 amidst what it says are “encouraging results against a tough backdrop”. Overall sales were down 18%, but ahead of its £39.6 million revenue forecast.
UK e-commerce companies have seen significant growth, both in revenues and repeat orders since lockdown. Firms report average annual revenue increases of more than 15% since April in line with the shift to online retail.
It’s a tale of two co-operative retailers: staff-owned John Lewis has been forced to ditch its partner bonus for the first time since 1953, while member-owned Co-op reports better than expected results, thanks to food sales.
Proof-positive that ecommerce is definitely off-setting lost store sales for retailers that have an omni-channel approach, with shoppers often spending more online – but only once they find the retailers they are used to shopping with.