IMRG has carried out some research which shows that the popularity of the internet as a sales channel continues to grow. The amount spent in 2007 will be equivalent to all sales in the West End (multiplied by nine!!). Global e-retail figures for 2007 are expected to be £250bn.
Historic sales figures:
2006 = £30.2bn 2005 = £19.2bn
These are massive figures (and for those in the US who read my blog - multiple the "£" by two and you'll have a rough figure in dollars).
"An estimated 860m parcels will be shipped to Britain’s 26m internet customers this year. They will receive an average of 33 each during the year. On average, online shoppers will splash out £1,600 each in 2007. "
These headline stats from The Times article just go to show how important it is for the internet to be taken in all verticals. Traditional retailers like John Lewis, Marks and Spencer and yes, even the banks are taking advantage of this "new" sales channel - one leading retailer recently announced that they were going to take on the might of Waitrose in the food retail business (believe it actually was M&S but don't quote me on that). Banks like RBS have online payment businesses - WorldPay and BiBit.