June 3, 2008
Online Shopping Accelerates
Here’s a naive question: is the slow down on the high street a result of a big switch to online ecommerce sites? Sure it sounds rather farcical and yes, we’re no economists but it’s interesting to note that growth in online sales in the UK is increasing while the high street is slowing down.
A survey of 4000 British shoppers by Verdict suggests that the amount of money spent by British consumers shopping online increased by 35% to £14.7bn last year. The growth rate is the fastest in six years and about 10 times that of the UK’s retail market as whole.
Meanwhile, Robin Knight, a director at Kroll is quoted in an article in the Financial Times says, “We’re going to see a ‘right-sizing’ of the retail market.”- and Dan Knowles, director of selling operations at John Lewis, says “We are in a customer downturn.”
BBC NEWS | Business | Online shopping ‘defies slowdown’
Financial Times - Jeremiahs crowd the UK high street
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