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Wednesday, September 8, 2010

Small businesses saved by ECommerce!


Shop owners who have decided to sell their goods online say the move has saved their businesses.

Some four-fifths (79 per cent) of retailers claim they couldn’t have kept their high street presence alive without being online at the same time, according to a survey from eBay.

Mark Lewis, managing director for eBay in the UK, says retailers can’t afford to ignore e-commerce. ‘To ensure businesses continue to thrive on the high street, they must raise their game and exploit new sales channels. The internet can provide a lifeline to all businesses, connecting them to customers across the globe.’

UK consumers spent a staggering £250 billion shopping online in the last decade. That’s according to the IMRG Capgemini e-Retail Sales Index, which is celebrating its 10th anniversary.

Our love affair with online retail therapy shows no signs of abating, with sales during 2010 alone expected to hit £56 billion.

The Index’s performance over the last decade tells the story of e-retail success in awe-inspiring numbers. It has grown by 5,772% since launch and continues to track the rise and rise of an industry that still continues to grow, despite the continued challenging economic conditions.

The Powering Small Business Britain report from online payment service provider PayPoint.net unearths a broad range of changes that are forecast for British entrepreneurship over the next five years.
PayPoint.net and YouGov surveyed over 800 UK small businesses about the critical business issues they face today. The findings provide a snapshot of business thinking and highlight a number of changes that have to take place as the UK economy emerges from recession.

The report yielded some interesting key findings…

•35% of small businesses across all sectors see the majority of their revenues coming from online income over the next five years
•58% of survey respondents predict that the greatest growth in their turnover will be through online sales
•Access to more customers is the top benefit to moving online for 59% of businesses
•36% of businesses have been able to grow through access to global markets as a result of trading online

Looking forward, over a quarter (27%) of the businesses covered see e-commerce as the future for their business but have not yet made it central to their commercial activity. Meanwhile, 44% acknowledge the importance of online revenues but are still only at the early stages of developing an on and offline presence to maximise revenue opportunities.

Have you made the move yet???

Sources: Smallbusiness.co.uk, Electronic Payments

1 comment:

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