Well, suprisingly its not all bad news, as UK ecommerce is still bucking the downward trend.
According to eMarketer's latest report 'UK B2C E-Commerce:Continued Growth in Tricky Times' 2008 will see an increase of over 28% on 2007 for online sales.
This figure, including online ticketing and digital downloads, is an amazing feat considering the decline in fortunes of High Street stores right now, for example:
- Woolworths £20m loss this year, potentially seeing the beginning of the end for this 99 year old
- Next's Spring/Summer sale volume being 20% down on 2007
- John Lewis, Argos & Homebase are all feeling the pinch
online sales will hit £94.2 billion ($169.6 billion) by 2012, although theOne thing's for sure... this isn't the online marketplace's recession right now!
annual growth rate will drop below 10%