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Online sales to grow by 40 per cent next year
New figures suggest that online sales in the UK are due to rise by a massive 40 per cent next year, to a total of £42 billion.The Interactive Media in Retail Group (IMRG) also found that October 2006 was the biggest ever month for online sales in the UK, with customers shelling out a record £2.7 billion – beating last December's record by £250,000.
Such figures demonstrate the increasing willingness of UK shoppers to use their plastic in online transactions, with the wide penetration of broadband a major contributory factor.
"More consumers are getting broadband," said IMRG chief executive James Roper. "It is huge. When people have broadband they shop online, it is as simple as that."
The figures also demonstrate the potential the internet holds for internet advertisers, as an already huge online audience is set to grow significantly.
As well as an increase of 40 per cent next year, the IMRG predicts that £3.5 billion will be spent online in December as people do their Christmas shopping.
Strong online retail growth was a major reason why retail sales in the UK were higher than expected in October. Figures from the Office for National Statistics showed that retail sales grew by 0.9 per cent – three times higher than analysts predicted.
Search Marketing news posted on 20 November 2006
