Online retail keeps on growing!

May 25, 2007

The volume of retail business taking place online is growing at an amazing rate! A survey just out from Verdict Research places the figure for online sales in 2006 at £10.9bn and they predict that number will have grown to approx £28.1bn in 2011!

That’s astounding! What makes the growth rate even more astounding is if you see the historical growth as well:

1997 £100m
1998 £400m
1999 £1bn
2000 £1.8bn
2001 £3.2bn
2002 £3.8bn
2003 £5bn
2004 £6.4bn
2005 £8.2bn
2006 £10.9bn

No wonder the web is booming! I can remember the cheers when e-retail hit £1bn back in 1999 (not long before the bust), let’s hope breaking the next digit won’t be the precursor to another slump!

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