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Hope for retail from online sales

Online sales will rescue the UK’s retail sector from the recession according to the PayPal UK Online Retail Report.

The report, which was undertaken by Experian, predicts that online sales will see the only growth in the British retail sector before 2012, with growth of up to 137 percent. High street sales meanwhile, are forecast to drop by up to £8.3billion.

If online sales match the forecast it would see the value of the annual online retail sector jump from just under £9billion to £21.3billion by the end of 2011, and double its market share from 3.2 percent in 2008 to a possible 7.4 percent by the end of 2011.

According to the report, nearly 9 million adults in the UK already shop online at least once a week, and shoppers are expected to spend at least one in every 14 pounds online by 2012.





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