Growth in online retail spend

Growth in online retail spend is looking very positive now and into the future. 

According to latest research by Verdict Research Consulting -

Online retail spending will grow by over £20bn in the next four years to hit £44.5bn by 2012, accounting for 14% of all retail spend.

This year online retail spending will grow by 32% to a value of £19.5bn, or 6.7% of all retail sales.

Comparatively, offline sales are predicted to grow by just 1.2% in 2008, which is well below the average growth rate of the past five years.

The research found that consumers feel the internet is more convenient and better for browsing and comparing prices.

Hayley 2008-05-01