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Britain is Europe's web sales capital

"British online sales will quadruple to £162bn over the next decade, according to a price comparison firm.

uSwftch.com predicts that online shopping will make up 40 per cent of retail sales by 2020, as consumers are increasingly using the internet to buy goods from electricals to clothing.

The research showed that online sales only made up 2 per cent of total retail spend in 2002, but uSwitch said this will reach 16 per cent by the end of 2007. uSwitch.com predicts that, in the run up to Christmas, 27 million shoppers will shell out a record-breaking £14bn online, making Britain the web-commerce capital of Europe.

Steve Weller, head of communications services at uSwitch.com, said: "We have whole-heartedly embraced online shopping."

The firm argued that British consumers could save more than £13bn a year by shopping online, with each household saving £500 a year on shopping and essential bills"*

MSI Comments

This is obviously excellent news for all those businesses with an ecommerce capability, for those retailers with just a high street presence or mail order/catalogue it highlights the importance of using a multi channel strategy. This is one of the key drivers in the market at present and shows that the internet market is still growing. Whilst this is happening it is important that retailers implement a well designed, branded site that retains customers for the future when the market becomes more competitive.

As more business come online it is vital that your product content is well written and that you have maximised your search engine optimisisation (SEO) in order to climb up the organic search results. The cost of customer acquisition will increase as the market becomes more crowded, furthering the need for customer loyalty.

*Article from the City A.M newspaper.
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