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E-commerce solution market set to grow hugely
New figures from e-consultancy indicate that the e-commerce solutions market will grow from £268 million last year to £400 million this year, as more companies see the benefits of Internet Advertising and opt to engage in online retail.
The group's 'E-commerce Platforms Buyer's Guide 2007' shows that the market increased by 22 per cent in 2006, and is on track to grow at the same rate this year.
Key drivers include the online success enjoyed by the likes of Tesco, which saw online sales increase by more than 70 per cent in the final three months of last year.
More and more small and medium sized enterprises (SMEs) are also moving sales online, e-consultancy notes, as they can compete directly with the bigger players in their sector using internet advertising.
Other factors driving the e-commerce solutions market include a greater focus on the user experience. Another survey by e-consultancy found that 72 per cent of UK companies were looking to increase their usability budget over the coming 12 months.
So called "social commerce", including consumer product reviews, is also growing and is an area that firms should keep an eye on.
A new study from TNS Media Intelligence indicates that the amount spent on display internet advertising in the US increased by 17.7 per cent to $5.5 billion in June 2007.
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Online Advertising news posted on 13 September 2007
