No one would deny that the economy is more than a little fragile at the moment would they, and when times are hard people usually cut back a bit on their spending don’t they, especially in the run up to Christmas. Well get this.
According to the latest figures from the IMRG Cap Gemini e-Retail Sales Index via Yahoo, figures for online shopping in the UK have actually risen 25 percent month on month which amounts to 11 percent more than the same period last year.
It seems people are using Wi-Fi to do the walking online instead of traipsing round high street stores for their seasonal shopping sprees. In November alone, the UK spent a whopping £5.3 billion on online purchases.
“November’s results show a solid growth for online retail in the run up to Christmas” said Mike Petevinos, Head of Consulting for Retail at Cap Gemini UK
“Given retailers’ perceptions that consumers are holding out for November bargains, this would suggest a strong December for online.
“The challenge will be to ensure that value is at the forefront of the Christmas message, with carefully designed promotions becoming the norm across the sector.
“Inspiring confidence in late delivery windows could also become a differentiator for those that have got it right.”
According to figures from the Coremetrics Benchmark, UK residents are spending an average of 94 percent more on each online order than they did in the same period last year.
The data was taken from the online sales figures for the latter part of November and early December with the participating top 150 online retailers which include Play.com, Net-a-Porter.com and Game.
The average order dropped by 20 percent during the period from 2007 to 2008 and then rose 94 percent from 2008 to 2009.
Could this mean that we are seeing an end to the lack of confidence in online spending?
“What’s interesting about this year’s benchmark data is how UK consumers are clearly feeling much more optimistic about the economy than last year,” says Richard Shepard, VP EMEA at Coremetrics.
“The recession has had a huge impact on online sales, but the Benchmark figures demonstrate that more shoppers than ever are going online in search of great deals.”
I think people are maybe just getting more familiar with online shopping now. Let’s face it, it’s far easier to browse for a decent laptop or netbook or an eReader or indeed any other device, video game or geeky gadget online than it is on foot.
no big comment on that…but I LOVE this blog, it is great and pls keep up the great work ;
Many consumers are finding online shopping quite convenient and easy. More than anything else its the ease with which we can compare features and prices and can make best buying decision on the internet
People don’t go to markets by foot or cars, instated of going market they buy products online. it’s because of online shopping facilities.
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