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News - 10 February 2005
Online shopping is set to boom in 2005
According to a report from CyberSource, a payment services provider, online shopping is likely to grow by 36% this year. The report predicts that 20 million UK shoppers will spend £17 billion online in 2005 and by 2009 around a quarter of UK shopping will be done from the armchair.
This poses a threat but also a real opportunity for retailers in Brighton and Hove. Traders need to start thinking about selling over the Internet so that they can grab their slice of that £17 billion.
However, it is important that traders take expert advice and set up sites that offer secure payment systems that will inspire confidence. As online trade grows it is inevitable that online fraud will increase in step with it and traders will be just as vulnerable as customers. The widespread use of Chip & Pin in shops will also assist in driving criminals toward easier picking grounds.
Traders also need to think ahead about the implications of operating online in terms of packaging and delivery, returns policies, overseas distribution and coping with very large increases in trade. If you would like to learn more about trading online please contact Soozie Campbell on 01273 380040 or at firstname.lastname@example.org
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