Internet beats Tesco – one pound in seven was spent online in 2007


web-sales-up-50-percent-2007.jpgTesco has been pretty proud of the way it rakes in one out of every seven pounds UK shoppers spend and is by far our largest money-taker – but the all-powerful internet beat it last year.

Finally living up to all those promises made by dotcom shopping businesses shortly before they went bust in 2000, The Internet raked in £46.6bn during 2007, a massive 50% increase over 2006’s pocketmoney level of £30.2bn.

That’s 15p out of every pound we spend, if that makes it easier to understand.

And during 2008, web sales are predicted to rise to one fifth of every pound we spend, as more old people stop being scared of the internet, broadband speeds make waiting for Flash shopping carts to load less of a pain and we learn to trust delivery time promises more.

So if you haven’t done so already, now might be a good time to try memorising your credit card number.

It is a good time to be an online retailer. But a bad time to be a post man.

(Via The Telegraph)

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