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News - 11 November 2005

Consumer spending online doubles

The value of online transactions to households in the UK almost doubled between 2003 and 2004. Online sales rose from £10.8 billion to £18.1 billion according to a new report from the Office for National Statistics.

At the same time business-to-business sales have increased by 64.6% to £62.4 billion. Over 35% of businesses made online purchases last year and 30% of them have a web site (for businesses with over 1000 employees this rises to almost 100%).

Yet only 7% of all businesses use the Internet to sell their own goods or services. This is surprising as the arguments for selling online are compelling. Each year more and more consumers are buying online and so indeed are businesses, market reach is limitless, and a web presence creates a level playing field where no one needs to know if you are a one-man band or a large conglomerate.

There is huge potential for Brighton traders to make up the sales shortfall that they are experiencing at a local level by tapping into a world market online. With just 7% of businesses selling online we are just chipping into the tip of the iceberg and the market is ripe for exploiting. Why wait for the rush? Brighton businesses need to get in ahead of the masses and claim their slice of the action before the log-jam.


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