Consumers turning to the web
Thursday, 31, Jul 2008 02:49
Consumers are turning to the internet where previously they may have hit the high street, causing growth in the development and sales potential of a number of websites, an expert suggests.
Neil Munroe, external affairs director of the services provider Equifax, says people are turning to the internet to carry out shopping, meaning retailers may look to the web to secure customers.
Furthermore, the platform is cost-effective and provides low margins, Mr Munroe continues.
"Some smaller organisations have embraced it but they are less likely to embrace it. Diversification of channel may well help out the bigger businesses as well," he adds.
Earlier this month, the Interactive Media in Retail Group published its retail sales index, revealing that during the first half of the year, 17 pence in every pound was spent online.
This, the study noted, equates to half of all supermarket sales and adds up to more than all retail sales for footwear and clothes.
Furthermore, such sales volume is an increase of almost 40 per cent on the same six month period during the previous year.