According to new research, UK online sales reached £46.6 billion in 2007, a rise of 54% on sales in 2006. This means that for every 85 pence spent on the high street, 15 pence was spent online last year. One third of all online sales took place in the 12 week run up to Christmas, with sales in this period reaching an all time high of £15.2 billion.
The research shows that shops can still compete, but only by embracing e-commerce themselves. Retailers with such a ‘multi-channel’ strategy seem to have done better than retailers with just a physical shop or just an e-commerce website.
The largest product growth area was in electronics, which showed online sales growth of 60%, while clothing and alcohol increased by 28% and 20% respectively. The research also found that consumers’ expectations have increased and retailers must develop a robust website in order to compete.
Web Factory doesn’t just offer a simple shopping cart solution to bolt on to existing websites: we have a complete e-commerce package that really sells. Why not find out more about our professional web design services and see what Web Factory can do to help you cash in on this growth.