The internet economy is predicted to double in value by the year 2016 according to one of the world’s leading management consulting firms BCG (Boston Consulting Group). Based on the research that they carried out, they predict that the value of the internet will significantly increase from £1.5 trillion to £2.7 trillion in the coming years.
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The online retail market in the UK is currently growing at a rate of 16% per year, in spite of the recession according to IMRG the recognised authority on e-retail. Over 37 million internet users in the UK use online shopping, all contributing to the massive £68 billion of total sales in 2011.
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In the aftermath of the Christmas season and the January sales, we can take a look back at consumer trends this year and see that the way people are shopping is changing dramatically in this new economic climate.
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M & S have produced a report of substantial quarterly growth in sales over the Christmas period even during this difficult economic climate, helped in part by their growing presence on the online consumer market.
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A whole host of announcements are expected to be made this week regarding Christmas trading figures, highlighting those retailers who have failed to utilise e-commerce in order to boost their sales and profits, despite poor high street sales this winter.
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Leading fast food retailer, Domino’s Pizza, have released information today stating that they frequently take total online orders of more than £1million over a single day.
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Next has reported that their Autumn and pre-Christmas sales are on target, despite poor takings at high-street stores, thanks to the strong performance of their online sales.
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