£300 billion spent online
Posted on 27/06/2011 by Sarah McCormick
According to figures published recently, more than £300 billion has been online since the launch of IMRG Capegemini e-retail sales index in April 2000. For the past 11 years the market sales has rose significantly from £0.8 billion to £58.8 billion.
IMRG have been tracking the UK e-retail market for more than 10 years, and the figures are expected to keep rising with the forecast for 2011 being a pleasant one, predicting that the market will be worth £69 billion. The highest performing sector was clothing throughout this time, with a growth of 3245% since April 2001.
James roper CEO of IMRG says : ‘An estimated £300bn has been spent online in the UK during the 11 years that our Index has been tracking the e-retail market, and with around £70bn estimated to be spent this year, we expect that figure to easily double within four years.’
In the past 11 years, online retail has become more and more popular, with customers choosing to shop online in favour of the traditional way of shopping on the high street. With more choice, convenience and better offers to be had, online shopping certainly is the way forward and the future of retail.
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