Data from the latest Hitwise UK Search Update reveal that Google and Yahoo!’s share of the search market is growing and driving up the share of referrals from search engines to retail websites.

Google powered a massive 78% of UK internet searches in the four weeks to 21st October 2006, up 9% year-on-year. Yahoo! took the No.2 spot based on share of executed UK searches with 7.7% of the search market. Together Google, Yahoo! Search, MSN Search and Ask.com powered 96.6% of all UK internet searches, up 2% year-on-year.

It is a well-known fact that consumers are increasingly using search engines to navigate the web, with the importance of search engines growing as a source of referrals for retailers. Google and Yahoo! Search in particular are seeing strong growth in their share of the UK search market and their share of referrals to online retailers.

Interestingly, Hitwise reveals that,

“Whilst there appears to be no indication that paid search is a defining factor for top ranking based on share of internet visits, leading retailers tend to engage in at least some paid search activity.”

In this respect it is clear that the UK paid search market is much less mature than the US, although all the signs are that it is catching up at a cracking pace. If you are a UK retailer looking to compete in 2007, paid search needs to be at the top of your New Year’s Resolution list.

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