Analyst forecasts double-digit growth for online retail
Marketers must develop a multichannel sales and marketing strategy to take advantage of double digit growth in online retail business over the next five years, according to Forrester Research.
This is not least because nearly four in ten Western European shoppers now start their research online when making a considered purchase and via a mix of channels, which include social networking sites, and devices ranging from PCs to mobile phones. But more than a third subsequently employ a broader mix of online and offline channels before buying anything.
Sucharita Mulpuru, a vice president and principal analyst at Forrester, said that much of the growth in the retail sector over the next five years would be generated online. The market is expected to grow at a compound annual rate of 11%, making it worth E114 billion by 2014.
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