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Trade News Archive 2010 January February March
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9th March 2010
Retail sector to grow 10% annually for 5 years
The retail sector in the UK is expected to grow at an annual rate of ten per cent a year for the next five years.
That is according to the data from Forrester Research, which reveals that the internet will be the predominant factor behind the upturn in sales.
The research, which comes as part of a Europe-wide survey, estimates that an extra 50 million Europeans will use the internet for shopping over the next five years, generating a surge in sales across the continent, including Britain.
Sucharita Mulpuru, vice president and principal analyst at Forrester Research, said it was essential that store owners did not neglect offline sales and worked on developing the relationship between online presence and bricks-and-mortar sales.
Mulpuru said: "Much of the overall retail sector's growth … over the next five years will come from the Internet.
"To maximise that growth, eBusiness professionals will have to help enable a multichannel strategy that responds to consumers' increased desire to hop between the offline and online worlds."
Approximately 26,000 people were consulted for the survey.
© 2010
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