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BizReport : Research : May 30, 2007
U.K. online retailers aided by wider broadband access
The British online retail sector will be worth $55.7 billion by 2011, according to recent predictions by Verdict Research.
The U.K.'s online retail sector is due to triple in value within the next four years, according to a new study by Verdict Research. Online retail spending in the U.K. grew 33.4 percent in 2006, to a record $21.6 billion, 13 times faster than the retail sector overall.
The 'clothing and footwear', 'DIY and gardening' and 'food and grocery' sectors are the fastest growing, says the report.
The availability of low-cost broadband in the U.K. has helped online retail growth, with two-thirds of those online shoppers surveyed saying having high speed access led them to shop online more.
The investment by retailers in their online presence and the “seamless” integration of their off- and online activities is also reaping rewards.
"Viewing channels in isolation is more a recipe for failure than for success and a seamless fusion needs to be achieved between physical and online channels, " said Nick Gladding, author of Verdict’s e-Retail 2007 report.
Verdict predicts that by 2011 the online retail sector will be worth $55.7 billion, accounting for nearly 9 percent of all retail spending in the U.K.
Tags: broadband, online retail, online shopping
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