smallbusiness.co.uk: Helping your business think big

Calling in sick

Bosses are rendered powerless by the line: ‘I feel a...
Have your say »

RSS

Online sales 'will save retail'

Jun 24 2009

Growth in online sales will help to save Britain's retail sector from the recession, according to new research.

The PayPal UK Online Retail Report claims that UK online retail spend will increase by £12.3 billion by the end of 2011, taking the market to £21.3 billion.

According to the research, this 137 per cent growth will help to offset a predicted fall of £8.3 billion in high street retail sales and allow the total sector to see its market increase by £510 million in 2011.

The report also shows that almost one-quarter of customers believe online shopping will eventually replace the high street as the norm.

Carl Scheible, managing director of PayPal UK, suggests that the report demonstrates online retail should no longer be regarded as a 'sideshow' to the high street.

'Its phenomenal growth is not only forecast to deliver sales of as much as £21.3 billion by 2011, but a £12.3 billion increase will also ensure that the entire UK retail sector is growing again by the end of 2011,' he comments.

Figures published by the British Retail Consortium this month revealed that like-for-like sales values fell by 0.8 per cent in May, slipping from the boost which Easter caused in April.

Comments

There are currently no comments on this article

New Vodafone Business Essentials

Get exceptional value on our most flexible price plan yet, from a network you can depend on. It's ideal whether you are a sole trader, family business or growing enterprise with up to 4 company phones. Find out more - offer ends 31 August 2010.

Pixmania-Pro

Europe's number one B2B electronics website. We offer a Dropshipping service for digital cameras, TV's, ipods, laptops, games consoles and much more. We stock over 25,000 products and give you the chance to sell our products without having to hold any stock. Click here.

Get started with Barclays Business Banking

Choose from 3 great Start-up packages offering a range of business and banking solutions, from cashflow management software (QuickBooks or Sage) to VAT management solution. Plus, up to 2 years FREE banking (conditions apply). Apply online.

Prize Draw

Enter our reader competition and win a Brother colour all-in-one printer!

Smallbusiness.co.uk has teamed up with Brother to give away one its most popular printers - worth more than £400. All you need to do is take part in our short survey which only takes a few minutes to complete (no more than 5 minutes) and all entrants who complete the questionnaire will be entered into the free prize draw. To take part click here

Polls

Latest News

Administrations plummet

Liquidations in the retail sector fell sharply in the first quarter of this year.

Easter sales spring into action

Retail sales were up last month largely due to Easter falling early.

Retail sales bounce back

High street sales rebounded last month following a poor start to the year.

Profits fall in business services

Small businesses in the consultancy and business services sectors have seen profits fall during the last six months, finds a survey.

Cash for old bangers revs SME growth

Car sales were up by 26 per cent last month compared with February last year, largely due to the success of the government’s car scrappage scheme, says the Society of Motor Manufacturers and Traders (SMMT).

Shoppers splash the cash

Consumer confidence reached its highest level in two years, following news that the economy emerged from recession, says a poll from Nationwide.

Manufacturing powers ahead

Confidence among manufacturers has improved as demand for manufactured goods continues to rise, says industry body the Engineering Employers Federation (EDF).

Companies ‘blinkered’ about recession

The operating environment for businesses will ‘never return to pre-recession normality’ and a period of weak growth could continue until 2015, claims accountancy firm BDO.

Inflation jumps

The increase in VAT and rises in the price of oil pushed inflation in January up to a 14-month high.

Hairdressing: a cut above other trades

Being asked about holiday plans while getting a haircut might seem like idle chat, but hairdressers are the tradespeople customers have the best relationship with, claims a poll.

Shop closures fall

The rate of shop closures is easing, according to a study from research firm The Local Data Company.

Guides & Tips

Brand power

Without the right brand, Coca-Cola would have been just another fizzy drinks company. Read our guide to find out why brands matter

The winning sales pitch

Success in a sales meeting often needs a subtle touch. Here three entrepreneurs give us their top tips on how to close the deal

Small businesses v supermarkets

Whether it’s squeezing suppliers or pricing shops out of business, small businesses are fed-up with the bully-boy tactics of the big supermarkets.

Don't Miss

David Strang is flying high with his boomerangs

Big returns

David Strang’s boomerang and toy company Wicked Vision has soared since he first launched it ten years ago.

Keep your customers coming back for more

Retaining customers

Keeping customers coming back for more isn't always easy. Here are ten top tips on how to retain a loyal consumer base.

Ascending in rocky times

Not all companies are seeing a drop in sales. Here SmallBusiness.co.uk meets entrepreneurs who are watching their profits climb.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as over 230 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.