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Online Retail Outlets Steadily Growing

With more and more online retail outlets hitting the start line, we need to look at the overall chances these businesses have of success.

Recent figures released by the Office of National Statistics show that 10% of retail sales in the United Kingdom were carried out online. This figure is lower than I personally expected, however when you consider most people are not hooked up to the web 24/7 it makes perfect sense. I believe online spending habits will increase in the future albeit at a steady rate.

So what does this mean for the online retail sector?

Basically they’re fighting over 10% of the market share in an environment that will only gain in popularity. It’s important to understand that no one has a god given right to succeed, regardless of their capital investment. To operate at a high level we need to be constantly on the ball, challenging ourselves and the people around us on a daily basis. Another point to consider is this, just because a venture is performing well today, there’s no guarantee it will be in the future.

As more and more people turn to the Internet for their shopping it will bring opportunities, however competition is only going to get stiffer.

There is very little easy money to be had in the online retail market, solid graft and an insane desire to succeed with give people a chance.

By Peter Arkwright



 

Date Written: Sun, Oct 23rd 2011