E-commerce in the Credit Crunch
The BBC recently reported a decline in both High Street and online sales, highlighting a 4% drop in online sales compared to last year’s figures. In comparison to the last three months leading to Christmas last year which saw UK internet sales rise by more than 50%.
In July this year online sales were accounting for nearly 20% of all retail spending, suggesting that online sales was going to continue outperforming the High Street shops. Is it all doom and gloom with this first decrease in Internet sales since 2001? Should those who are looking to start an online business fear the worst from under-confident consumers?
Feedback from our customers would suggest otherwise – more often than not they are actually reporting a sizable increase in sales, for example: Jeremy James from I Want Pants told us sales are up 62% compared to the same week last year, and Duncan Innes from Sussex and the City reported a sales increase of around 400%!
With the credit crunch and Christmas around the corner more and more people are turning to online stores searching the that ‘must have’ bargain.
