UK online sales to rocket in 2007
The Telegraph reported on Saturday that UK online spending is predicted to rise to £42bn in 2007, up from £30bn this year. That’s a whopping 40% increase!
But we wouldn’t be surprised if that forecast continues to rise - after all, it was only four months ago that the industry was predicting 2006 would hit £26bn. That forecast was then revised a couple of months later to £29bn and now it’s up again to £30bn.
This tells us that online spending is rocketing skywards and it is continuing to outperform expectations. What are the odds that this time next year we are looking back at the current figure of £42bn as a low-ball estimate?
This growth is being fueled by massive broadband adoption (helped by some great free broadband deals from the likes of Talk Talk and Sky) as well as increasing consumer confidence in buying online.
Bottom line is that this is great news for retailers as the ‘online pie’ continues to get bigger, and those that embrace a solid multi-channel strategy are likely to see an even larger slice of the action.