Revolution in store as online retail sales soar
Mike Petevinos, Head of Consulting for Retail at Capgemini UK, comments on the findings of the latest Capgemini IMRG e-retail sales index.
18 July 2008
Publication
Research by Capgemini and global e-retail industry body IMRG revealed that online
retail sales in Britain leapt 38% in the first half of 2008, with growing broadband
penetration and the convenience of shopping at home acting as the main drivers.
Mike Petevinos, Head of Consulting for Retail at Capgemini UK comments: “Somewhere along this journey retailers will reach a tipping point where the growth of the internet seriously challenges the future viability of their business model.”
According to Capgemini, the internet will account for between 30 percent and 50 percent of all retail sales in just five years, meaning store groups have to move fast.
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 Reuters.com, click here.
To read the press release, click here.
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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 Mirror reports on how online retail spending is up by 38 percent.
- 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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