Business will be driven by tighter budgets, social elements and mobile devices
IMRG Capgemini’s e-Retail Sales Index reported that UK online buyers spent a total of £68 billion ($109.7 billion) online in 2011, an increase of 16% over 2010. Online spending in 2012 is set to rise another 13%, for a total of £77 billion ($124.2 billion).
The firm estimates that online sales accounted for 17% of the total retail market in the UK in 2011, compared to 5.7% of sales in the US from January through October 2010 and 7.4% from November through December 2010, according to the latest data available from the US Department of Commerce.
In a statement, Chris Webster, head of retail consulting and technology at Capgemini, said, “During 2011, we saw continued pressure on [in-store] sales as shoppers became savvier in looking for bargains in the run-up to Christmas. The rapid rise of mobile will continue into 2012 as consumers become familiar with shopping via tablets and smartphones.”
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Check out today’s other articles, “Does ‘Liking’ a Brand Drive User Loyalty?” and “Consumers Indicate Limits to Future of Ereader Market.”