Online spending bucks recession
Mike Petevinos, Head of Retail Consulting, Capgemini comments on how online spending has remained immune to the credit crunch.
22 July 2008
Publication
Figures from the IMRG Capgemini e-retail sales index has revealed that shoppers
are spending more online than the high street. More than £26.5 billion was spent
in the first six months of 2008, despite the credit crunch.
Mike states that “Whilst online retail is not immune to the credit crunch, it is showing greater resilience than the high street. The online channel continues to grow its share of retail spend thanks to the traditional drivers of convenience and choice but these drivers appear to be magnified by the current economic environment. Convenience has a sharper edge in a world of soaring fuel prices and the ability to research and make more informed choices in a time of heightened price sensitivity is a key advantage of the online channel.”
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 TheRetailBulletin.com, 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 how online spending is increasing regardless of the credit crunch.
- Silicon.com reports on online retailing taking 20p in every shoppers pound.
- Sky News reports on how online shopping now accounts for almost a fifth of all retail spend.
- The Scotsman reports on soaring online sales.
- Mike Petevinos speaks to BBC News on the rise of internet shopping.
- The Mirror reports on how online retail shopping is up by 38 percent.
- The FT reports on the buoyant internet shopping sales.
- Shoppers hunt online bargains, The Daily Telegraph reports.
- The Independent reports how online shoppers are bucking the gloom.
- The Guardian reports boom in online sales as shoppers desert high street.
- The Mirror reports on how online retail spending is up by 38 percent.
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