Websites Continue to Take a Larger Share of the Retail Pie
June 19th, 2008
With the credit crunch biting hard, economic slowdown and falling retail sales it is encouraging to read today that online retail continues to grow, with this years online retail spend expecting to grow by 32% compared to offline retail sales which expect to see a minimal growth of 1.2% according to the European and UK internet consultancy group Verdict Research.
Online retail is currently worth around £20bn, an estimated 7% of overall retail spend and by 2012 Verdict forecast that this figure will rise to 14% or around £45bn.
With shoppers increasingly turning to the internet as an effective means of seeking out bargains and low-priced products, will an online retail presence become the difference between commercial success or failure? And will online apathy lead to a retail sales disaster?
Entry Filed under: News and Views, Online PR, Search Marketing, Social Media
1 Comment Add your own
1. Paul Greaves | June 19th, 2008 at 4:10 pm
Quite a scary outcome for a lot of retailers, especially with all the hype within the financial sector, property, inflation etc. People are cutting back as much as possible.
Like the post says, businesses are now looking more into ways of saving money and online is the most cost effective way of achieving this.
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