Recession proof online traders can grab 10% market share by 2013

11th June 2009 | online | The Internet will account for 10% of the retail market by 2013 with total sales worth £31.2bn. That’s the view of retail consultancy Verdict Research, which is predicting continued double-digit online growth this year despite other sectors suffering a market contraction.

Verdict says the number of consumers using the Internet to buy goods will increase in 2009, but equally importantly the spend per head will also rise. The consultancy says there were 1% more Internet users last year than in 2007, but 18% more Internet shoppers, as existing users made the leap from browsing to buying.

It also says per-head expenditure online rose 5.8% from 2007 to 2008. Verdict believes the online retail channel is outperforming the wider retail sector because it is more resilient to the recession.

The reason, it says, is that consumers from the more affluent AB demographic are the largest spenders online – the group least likely to suffer hardship during the economic downturn.

The online retail market will be worth £20.9bn in 2009, according to Verdict’s UK e-Retail report.