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Online sales set to triple, say analysts

30/05/2007  11:48:37

 


 

Online retail businesses should see sales almost triple over the next five years, according to industry analysts.

The recent survey by Verdict Research predicted that in 2011 online retailing in the UK alone would be worth around £28.1 billion, or about 8.9 per cent of the UKs total retail sales.

The research also indicated that online retailing in the UK has been growing at its fastest rate since the dotcom bubble burst. The amount of money spent by consumers shopping online increased by 33.4 per cent to £10.9 billion last year.

Verdict said: "Even with some retailers staying out of the market, online sales in the UK are set to triple in value.

"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 results should come as welcome news for certain business start-ups and other small UK enterprises, many of which are more web-focused than their older, more traditional competitors.

However, the survey also acknowledged that funding limitations have led some small retailers to avoid retail web services because their scale has made it difficult to pay for the necessary infrastructure.

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