Internet Sales set to reach £40 billion in 2007
Added on December 17th, 2007
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Following an horrendous summer and increased interest rates, retailers now face stiff competition from Internet companies, in the run up to Christmas.
A report issued by USwitch confirmed that by 2020 internet shopping will account for almost 40 per cent of all UK retail sales. This is a stark contrast to figures released in 2002, which showed only 2% of sales were conducted online.
USwitch confirmed that it expected Internet sales to reach £40 billion in 2007, accounting for 15% of overall retail sales. By 2020, this figure is set to rise to £162 billion.