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Online demand outstrips supply
To say that online retail is on the up is something of an understatement, new figures indicate.The Interactive Media in Retail Group (IMRG) has revealed that UK online sales in 2006 amounted to a massive £30.2 billion, with £3.6 billion of this spent in December as consumers enjoyed their Christmas spending splurge.
In the ten-week run-up to Christmas Day, online buying rose by 54 per cent and encouraged more and more businesses to move online and take advantage of online advertising.
"Online shopping growth is rampant, with no sign of abating and consumer demand is outstripping supply by a significant factor," said the IMRG's chief executive, James Roper.
"Consumers gave retailers a strong message at Christmas – they want the choice and convenience offered by online shopping."
Even brands that performed badly on the high street - such as Woolworths - managed to compensate by way of internet sales.
The IMRG results also indicated that demand outstripped supply, suggesting that 2007 will be the year when online retailers will really get their act together.
Toys, food, electronic goods and fashion all sold strongly on the internet over the festive period.
Corporate Internet news posted on 22 January 2007
