Forrester, the ecommerce consultancy, has predicted that UK online retail sales will survive the economic downturn and buck the high street’s downward trend. Consumers are looking to cut down on fuel costs and find the best deal they can, which means online shopping is set to continue to expand at a rate of 6% a year.
Despite overall economic conditions deteriorating, it is clear that online retailers are going to benefit from the migration of shoppers from the high street to the Internet and UK online retail sales are set to flourish.
Practically everything can be bought online these days, and Forrester has concluded that books, leisure travel and DVDs were some of the most common Internet purchases of 2008, with one of the largest consumer spending areas being within the fashion sector.
One such UK online fashion retailer, ASOS, has seen profits increase dramatically. Total profits for 2009 are already expected to be about £13.8m. This paves the way for a promising future for UK online retail sales.
Forrester also indicates that online UK consumers spent more in 2008 than European online shoppers.
Want to know more? View this article: UK online retailers to buck weak high street
Tagged with :