Online retail spending up 38 percent
Mike Petevinos, Head of Consulting, Retail, Capgemini UK dicusses figures from the IMRG Capgemini e-retail sales index showing consumers spent over £26.5 billion online.
18 July 2008
Publication
Retail spending online in Britain increased by 38% in the firt half of 2008.
Resulting in 17p in every £1 is being spent online. The IMRG Capgemini e-retail
sales index has predicted that this figure could rise to as high as 50p in five
years.
A further prediction is that between ‘30% and 50% of all retail sales will be online in the next five years with many firms reaching a tipping poing where they will have to question the viability of their stores.’
Mike states “that we estimate this point to be around 20% online sales and can see this when we look at the categories at the forefront of the online revolution; books, music/DVDs and electricals”.
Mike has spent the last 9 years advising clients on their most significant strategic questions and supporting them in launching and delivering enterprise-wide programmes to help them fulfil their ambitions. A specialist in the Retail and Consumer Products industries, Mike is now responsible for this capability within Capgemini UK and is a published author on how Integrated Multi-Channel Retailing is shaping the industry.
To read the rest of the article at Mirror.co.uk, click here.
To read the press release, click here.
For the latest news on Capgemini & Retail, click here.
Further coverage:
- The Retail Bulletin reports on the increase of online spending regardless of the credit crunch.
- Computer Weekly reports on how the web is eating into high street sales.
- Online retail takes 20p of the shoppers pound, Silicon.com
- Sky News reports on online shopping accounting for a fifth of all retail spend.
- The Scotsman reports on online sales soaring.
- Online shopping ‘up 38%’ on 2007, Channel 4 reports.
- The FT reports on the buoyant internet shopping sales.
- The Guardian reports on how the boom in online sales shopper desert the high street.
- Mike Petevinos speaks to The Daily Telegraph on how Mothercare has embraced their online shopping channel.
- Shoppers hunt online bargains, The Daily Telegraph reports.
- The Independent reports on how shoppers are bucking the gloom.
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