The U.K. is one of the few countries (if not the only country) that has strong CD single sales. As such, their CD singles sales chart is important.
However, the airplay chart is just as important. Sales peak and fall. Unless it's a monster hit, usually most songs don't linger long in the top 10 on the U.K. sales chart. Therefore, using that chart as their main indication of a song's success isn't appropriate.
The U.K. should have a Billboard type of chart that combines sales and airplay. With the two combined, CoBL might have even hit #1 that first week. If nothing else, it certainly would have lingered longer in the Top 40. Plus, a combined chart really shows the success of a song. After all, for a song to be #2 on the airplay chart for 3 weeks strongly shows that it is in demand. As it's the third single from an album, it's not surprising that sales would drop off quickly - people already have the album version of the song, so no need to buy the CD single.
But, alas, the U.K. doesn't have a combined chart. So for now, we need to examine both charts separately.