In the latest reflection of the effect a weakened pound is having on the UK’s economy, the share of UK retail ecommerce deliveries bound for customers elsewhere in the EU hit a new high in May, according to tracking by the Interactive Media in Retail Group (IMRG).
Figures from the latest IMRG MetaPack UK Delivery Index show that overall UK retail ecommerce delivery volume increased 13.9% in May compared to a year earlier. Spending per order was also up, according to IMRG, with the average order value (AOV) hitting its highest level for May since it began tracking that figure in 2011.
Digging deeper, IMRG found that EU-based buyers from outside the UK played an increased role in boosting those figures. For one, the proportion of May's orders going to EU destinations, at 61.8%, was the highest since IMRG began monitoring that metric in August 2013.
Moreover, the month's higher-than-usual AOV was driven by buyers elsewhere in the EU. IMRG found the AOV for orders going to domestic destinations had "decreased slightly" over the past few months.
IMRG attributed the greater influence of EU-originating cross-border ecommerce on its figures for UK retail ecommerce to the euro's stronger value against the pound since UK voters approved the country's exit from the EU.