With the advent of the Internet, it has become much easier to e-mail your loved ones anywhere across the world, get the latest news online, and even dating online. One of the other major benefits of the Internet has been online retailing.
Online retailing has largely been available in the UK for the last seven years or so and the trend is rising. Online retailers have grown in terms of both profit and growth rate every year.
Shifting from conventional bricks and mortar shops to online retailers has not been easy for everyone, however consumers in the UK are now happy to be shopping online. A survey in 2004 showed that 38 percent of users declared themselves to be ‘very satisfied’ with their online retailer, which is very high compared to other European countries.
The surge in online retailing in Europe is down to two major factors. The first factor is that existing customers are repetitively buying online which in turn has led to the broadening of the customer base. The second reason is the penetration and availability of ‘Broadband’ high quality high speed Internet connection means that shopping is now faster and a better experience than through a dial up modem.
Online retail promises to provide e-shoppers with the best services and products with a greater deal of choice and extremely competitive prices. An online retail store allows customers to shop from the comfort of their home without facing the chaos of walking through crowded streets and trying to park.
Today, there are thousands of online retailers that are selling their products on the Internet, everything from credit cards to cars. Experts feel that the there has been a phenomenal growth in electronic goods such as gadgets, mobile phones, and computer accessories and they will continue to grow. The biggest growth category for online sales in the UK, however is groceries. Online book buying continues to be extremely popular too, with the number of Web users buying books increasing by more than 50 percent in 1999.
The amount of money spent on online shopping has rocketed in past five years. Consumers spent £3.2 billion online in 1999, £10 billion in 2001, and around twenty million shoppers spent £17 billion online by the end of 2004. Experts forecast that revenues will grow by 36 per cent next year, and by 2009, 25 per cent of shopping will be conducted over the web.
Shopping online promises to be a big part of the future, with online retailers making profits and products being just a click away from the consumers. |