The retail sales in the UK decreased at an unprecedented rapid rate, thus hitting a record in March 2020. On the other hand, eCommerce witnessed the record share of spending, which made up 22.3% of all sales. To reveal more details concerning the topic and find a comparison expert that can help you with the best merchant account UK, follow the lines below.
UK Retail and eCommerce Sales After Pandemic
The UK retail sales dropped at the fastest rate, and online sales increased significantly, thus accounting for a 12.5% rise as compared to 2019. They made up 22.3% of all retail sales during this one-month period. These numbers refer to the period from March 1 to April 4.
According to ONS (Office for National Statistics):
- People gave 6% less amount to shopping as compared to March 2019, and the purchased goods got reduced by 5.8%
- The highest online-sales growth was registered in department stores, with a 33.7% rise in eCommerce sales as compared to 2019
- In March, there was a 19.7% rise in online food sales as compared to 2019
- As compared to 2019, there was a 4.4% drop in the sales of online clothing
- As compared to 2019, there was a 51.8% increase in the online sales of household goods
- The online sales in other non-food stores were up by 6.4% as compared to 2019.
Best Merchant Services UK and Financing to Get
Given the current and expected changes in eCommerce around the globe, it’s vital to find the right merchant-services provider to work with. For this, you just need to turn to a trustworthy and unbiased comparison specialist in the UK.
Look for a merchant-services comparison expert that pays exceptional attention to terms, complaints, and integration, as well as reviews contracts, rates, and fees. This will ensure you’re getting the right deal for your business wants and needs.
As you see, the new virus outbreak forced brick-and-mortar stores to close their doors throughout the country. The 1st full month of lockdown in the UK has resulted in record-high numbers of eCommerce sales and a record dip in retail sales. The UK witnessed the highest (up 23.8%) year-over-year rise in online sales during the last 10 years.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and can help you get the best merchant services UK. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.