Kelkoo reports further online retail growth
Fri, 13 Nov 2009
A new study has indicated that online retail sales have continued to increase in the UK this year.
Research conducted by shopping comparison site Kelkoo shows that the ecommerce market is now worth £44.7 billion, with volumes rising by 1.9 per cent over the last 12 months.
This additional value of £832 million may encourage more companies to expand into the online environment, the study suggested.
Kelkoo found that online sales have increased "dramatically" in the past decade – rising from £31 million at the millennium to an estimated £8.9 billion this Christmas.
Bruce Fair, the firm's managing director, claimed that the peak weeks of Christmas trading are "vitally important" to retailers.
Many of them earn up to 60 per cent of their profits during this period, he stated.
"The retail industry is seen by economists as a leading indicator of economic trends and results this Christmas will prove critical in stimulating retail growth and aiding the nation's economic recovery as a whole," Mr Fair added.
According to Richard Perks, director of retail research at Mintel, trading conditions could deteriorate in 2010 when the general election has taken place.
He recently claimed that interest rates and taxes are likely to increase as the new government looks to reduce its public deficit.
Posted by Steve Williams
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