On Internet Business

Online Retail To Grow By 27.8% In 2009

Posted by Michael under Online Retail

According to Verdict Research online retail will grow by 27.8% in 2009 accounting for 8.5% of total retail sales. Further research from New Media Age shows that 89% of shoppers believe that they can find better prices online.

The new media age online shopping survey has revealed spending plans for 2009 In summary the report revealed cost-conscious users intend to shop more online this year, dealing a further blow to the recession ravaged high street.

More Plan to Shop Online.

The research found 36% of consumers plan to shop online more and spend less on the high street this year. On 18-24 year olds this rose to 45% with the lucrative 25-34 year old market this was 44%.

More People Looking for Online Bargains.

The recession has made online consumers more price conscious. 34% plan to use price-comparison sites more, while 22% will increase their use of value supermarket and auction sites.

Growth of Value Retailers.

Nielsen research revealed a 64% year-on-year increase in unique visits to the site of value supermarket Aldi. The cut-price supermarket chain is expanding its online presence with the planned launch of a travel and then flowers website.

Rival supermarket Asda is also seeing growth online. Asda Direct has seen sales grow by 70% growth year on year.

What consumers think about prices online?

• 89% believed better prices can be found online.
• 68% said shopping online is cheaper than visiting the high street due to the rising costs of parking, petrol and transport.
• 81% believe the internet offers a wider range of products.
• 84% believe the internet offers ease in finding items.
• 95% believe the internet offers in comparing prices.

How Can Online Shopping Improve?

However there is still room for improvement for online retailers.

• 70% of consumers preferred the high Street for customer service.
• 74% of consumers preferred the high street for lack of waiting time.

The survey found that online shoppers believed CDs and DVDs were regarded the best online bargains, followed by video games, personal electronics, books and large electrical items.

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