UK consumers may have rushed back to physical stores last month, but the reopening of non-essential shops in Britain didn't appear to send online spending's trajectory into reverse, despite speculation that it would.
Online sales continued to grow in the UK during March with a 71.7% year-on-year increase, although given how much of a shock to the system the first lockdown was in March 2020, the strength of the rise was no surprise.
Online retail sales surged again in February and fashion was a key beneficiary. And it was encouraging that footwear sales sprang back to life after a tough year due to the pandemic keeping consumers at home.
HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.