British shoppers currently spend one in 13 pounds online, that will soar to one in five over the next decade. Sales of items that were historically bought on the high street so consumers could sample them will see enormous growth: clothes and footwear will rocket by 351%, followed by Health & Beauty which will increase by 330%.
eBay has also revealed that by 2020, online will account for over half of all new retail businesses, compared to a quarter at present, with over 280,000 internet start-ups being established. Online retail expenditure will also increase by £46 billion (up 223%) by 2020, while offline spending will drop by £18 billion (down 7%) in the same period.
eBay has also revealed that by 2020, online will account for over half of all new retail businesses, compared to a quarter at present, with over 280,000 internet start-ups being established. Online retail expenditure will also increase by £46 billion (up 223%) by 2020, while offline spending will drop by £18 billion (down 7%) in the same period.
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