Online-only retailer sales hit record £16.4bn

Sales at the UK’s 20 largest online-only retailers reached a record £16.4 billion over the last year, with Boohoo and Asos leading the pack.

The calculations by City law firm RPC, compiled from Companies House data, found combined sales at these companies rose 22 per cent, up from £13.2 billion the previous year.

Boohoo had sales of £1.7 billion in the year to 28 February 2021, a year-on-year rise of 41 per cent, while ASOS’ sales grew 19 per cent to £3.2 billion in the same period.

Electrical goods retailer showed the best performance of the entire group, with sales for the period growing 62 per cent to £1.6 billion.

The Hut Group, which owns brands such as Myprotein, Espa, and Lookfantastic, saw a 41.5 per cent rise in revenue to over £1.6 billion.

Online retail sales have cooled down since the High Street reopened; e-commerce sales declined by 14.1 per cent in June, a record low according to the latest IMRG Capgemini Online Retail Index.

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