Now is the time to get your business an eCommerce website according to a recent study that states the internet will account for one in every five pounds of British retail spending by 2020.
Leading retail researchers Verdict, who performed the study for eBay, forecast that British online retail spending would more than triple to 67 billion pounds in 2020 from the 21 billion spent in 2009.
It also predicted that over the same time period, spending outside the internet would fall to 247 billion pounds from 265 billion.
Verdict analyst Neil Saunders said: “Traditional bricks and mortar shops simply cannot afford to ignore the potential growth opportunities available online.”
Verdict also predicted that online sales of clothing and footwear, and health and beauty products would all more than quadruple over the period.
