Online sales to grow 40% in 2007
November 20th, 2006 by Lloyd Gofton
Following the Christmas Online spend post, earlier this month, The Interactive Media in Retail Group (IMRG) has just issued its forecast for online shopping sales in 2007, and it looks good.
The IMRG believes sales online will total £42bn in 2007 compared with £30bn this year. That’s an increase of 40%, directly linked to the growth in broadband and continued faith in online retail.
James Roper, the chief executive of IMRG, commented: “More consumers are getting broadband. It is huge. When people have broadband they shop online, it is as simple as that. And the supply side from retailers is really just starting.”
October was the biggest ever month for online sales, according to the IMRG, with shoppers spending £2.7bn - up £250,000 on the previous record month, December 2005.
December 2006 is expected to break October’s record with a total sales figure around the £3.5bn mark.
