So despite the economic downturn, eCommerce projections estimate that online retail will continue to thrive as budget constrained customers turn to the internet for their product research and to get a good deal.
Our old friends at eMarketer has some good tats showing how US online retail grew 6% in 2008 compared with 2% for the high street, and we all know Amazon’s grew 31%. ASOS, who focus on the internet clothing fashion space also saw strong revenue growth and profits in 2008.
In fact, US eCommerce sales are expected to grow 12.5% in 2009, 11.1% in 2010, and 9.9% in 2011. The majority of this growth will be in categories such as online fashion, groceries, and household goods.
With better presentation, more information, reviews, advice, better security, and fast broadband systems – there is plenty of rationale behind these figures.
As that famous pop group once sang (I forget their name!) – “things – can only get better”.
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