Online retail sales to expand 6% a year
UK online retail sales will continue to expand at a rate of 6 per cent a year says e-commerce consultancy, Forrester.
Forrester research said that while overall economic conditions were deteriorating, online retailers would continue to benefit from a steady migration
The consultancy today releases forecasts on the future of online retail in the UK, France and Germany. The research saw UK consumers outspending their European counterparts.
Forrester says; "The recession will hit online sales less hard than other channels as people shop online to find better prices and save on fuel."
It expects UK online sales for retail and travel to total just over £37bn in 2009, and rise to £56bn by 2014.
The success and successful forecast of online retail is backed by strong sales figures from online stores such as Asos.
The online fashion retailer reported a 118 per cent year-on-year rise in sales over the nine weeks to January 16. It said it was on track to meet expectations for full year profits of about £13.8m, up from £7.3m last year.
Increasing demand and greater promotion by merchants will drive the number of online shoppers in the UK up from 30m in 2009 to 37m in 2014 predicts Forrester.
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