Website Design North Devon

Latest figures reveal that online spending is still at record levels in the UK with £ 13 billion being spent online in the first quarter of this year. This is despite a downturn in high street sales and poor Easter trading driven largely by the current ‘credit crunch’ and resulting decline in consumer confidence.

For many retailers the internet is proving to be vital during these turbulent times, a combination of tumbling share prices, a decline of the housing market and the ever increasing costs on energy and fuel have resulted in a shuddering halt to a generation of growth in the UK and the tightening of purse strings is being felt everywhere. High street footfall continues to decline and with the prospect of continued economic slowdown retailers both large and small are set for a difficult future.

Apart from the traditional discounts associated with online shopping the internet offers the prospect of further savings for consumers hardest hit by the credit crunch, namely savings made at the petrol pumps. Indeed this way of thinking seems to be reflected in recent data from the European Interactive Advertising Association which shows that adults with children, a group particularly affected by the current financial climate are 40% more likely to use the internet.

Retailers who have already established themselves on the internet, particularly those who have previously relied upon their high street outlets are not only seeing huge growth in online shopping in general but are also seeing the benefits of offering an alternative sales channel to their customers at a time when many are cautious of opening their wallets.

For retailers both large and small the internet offers the unique opportunity to dramatically increase the catchment area of their businesses without the requirement of a physical building and as such the potential to increase customer numbers over and above those treading the streets outside their door. Furthermore diversifying online through an online shopping website is remarkably cost effective compared to the day to day running of a bricks and mortar store, not to mention cheaper to acquire.

For the eCommerce industry itself the continuing growth of online shopping during these times of economic uncertainty illustrate not only its huge role to play in the future of the retail industry but also its potential influence. Consumers choosing to spend for the very first time due to the savings they can make today may likely change their future habits.

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