Survey offers hope for online retail

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Survey offers hope for online retail

Keith Nuthall
In spite of the problems afflicting e-commerce, shoppers are increasingly keen to buy online, especially in Britain where people typically spend £200 annually in online purchases.

Research from London-based Internet retailer LetsBuyIt.com has shown that Internet retail sales have tripled since last year in four selected European Union countries.

Based on a survey of 12,000 Europeans in the UK, Sweden, France and Germany the research estimated that online retail sales would grow to 152bn euros (£95bn) by 2006, more than 6% of the European retail market.

Britain was found to have the highest level of online spending, with an average of £200 spent in the past 12 months, compared with £125 in the other countries.

The most common type of shopper according to the survey was a male aged 26-35; generally he ordered goods and services from home rather than work.

LetsBuyIt.com is currently restructuring its service, having recently signed an agreement with German retail giant KarstadtQuelle.

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