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Online retailing experiences growth spurt
25/05/07 - A study has revealed that online retailing in the UK has grown at its fastest rate since the dotcom boom ended.Verdict research revealed that consumers spent £10.9bn online last year, an increase of 33.4%.
The retail analysts also predicted that online sales would almost triple during the next five years.
A large factor behind this increase according to the study is the greater proliferation of faster and cheaper internet access.
Two thirds of the 3,000 customers surveyed had broadband internet connections and advised this was a major reason as to why they shopped online more often.
The research included online spending on goods but did not take into account sales of flights, tickets and insurance.
By 2011 online retailing will represent nearly 9% of the UK's total retail sales with £28.1bn being spent online according to Verdict.
"By 2011, the typical spend of an online shopper will grow to £1,056 per year with the clothing and footwear, DIY and gardening, and food and grocery sectors achieving the fastest growth," the researcher company predicted.
Verdict did also advise that most of the growth in sales probably would come from existing online shoppers buying more items rather than more people shopping over the internet.
The analysts also advised that many retailers were choosing to remain offline, with specialist, value and food retailers not already providing an online service staying off because the costs of launching an online operation are too high
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Published Date: 2007-05-25 12:07:37Subscribe to our RSS News feed:
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