Online Services Surpass Retail Sales

Article date: Thu, 14 Oct 2010 16:28 GMT

One of last year's award winners Historic Futures

Entries for this year's national Digital Entrepreneur Awards show significant changes in the e-commerce landscape. As more companies start to leverage online payment gateways, e-services are catching up with retail in this marketplace.

In a turnaround from previous year's, the 2010 DEAs have received double the number of entries for the 'E-commerce Entrepreneur of the Year' award as for the 'Retail Entrepreneur' category.

With big high street names such as Zara and Gap recently entering Britain's e-tail market, you could be forgiven for thinking that the retail growth curve is still as strong as in previous years.

However, as consumers purchase more services on the internet, other areas of e-commerce are beginning to emerge from retail's shadow. In fact, IMRG Capgemini e-Retail Sales Index shows that the month-on-month growth of online sales is at a record low of 1.9% for September.

Receiving a record number of entries this year, feedback from the DEA submissions reveals that particularly popular online services leveraging the payment gateway include: online marketing solutions, information services and delivery networks.

Lawrence Jones, UKFast's MD reports, "One of the great things about sponsoring awards like the DEAs is the opportunity it affords to learn about evolving markets.

"We always like to stay one step ahead of what is happening online in order to make sure we can keep providing exactly what the market needs!"

Payment enabled price comparison sites have become particularly prolific according to the award's entries received. The latest statistics from comScore show a similar pattern, with the number of people using comparison site's online, rising to a massive 50 per cent of internet users.

Print this article print this article.Return to Press Releases

Share with: