June 25, 2009
With Britain still deep in recession, it looks like online retailers could put Britain back on track as recent figures show they are bucking the industry trend. According to research conducted for PayPal, online retailers are expected to post the only growth in UK retail by 2012.
Forecasted UK online retail spend is expected to grow by as much as £12.3 billion to £21.3 billion by the end of 2011.
The latest research shows that almost 9 million adults already purchase products online at least once a week with shoppers expected to spend at least one in every 14 pounds online by 2012.
The PayPal UK Online Retail Report, undertaken by Experian, suggests that by the end of 2011, high street sales will fall by £8.3 billion while online retail sales in the UK are set to grow by up to 137 per cent.
This expected growth, amounting to as much as £12.3 billion, would see the value of annual online retail sales jump from just under £9 billion to £21.3 billion.
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