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Webloyalty, who own & operate the Shopper Discounts & Rewards programme commissioned Verdict Research, the leading authority on UK & European retail markets to review changes in consumer's behaviour & attitudes to shopping online, and uncover the core drivers of online spend. Shopper Discounts & Rewards is an online savings & discount programme that offers members who join the opportunity to earn cash rebates of up to 20% at over 450 top online retail merchants. In addition members can benefit from shopping protection products.

Online Shopping Sales to Soar

The internet will have an increasingly big impact on the way people shop, according to a study by Verdict Research, and all retailers need to take this into account when looking to the future. The research, carried out for Webloyalty, an online marketing company, shows the e-retail market will more than double in size over the next five years: by 2011 e-retail sales will be worth £28 billion. Clearly, e-shopping is a rapidly growing market.

This growth of internet shopping will affect sales on the high street, the Verdict report says. While e-shopping is predicted to grow by over 102% in the next five years, overall retail is expected to grow by 12%, Verdict Research figures show. In addition, retail expenditure will grow at a slower rate over the next five years than it did for the previous five. From 2007 to 2011 annual growth will run at an average of 2.9% compared to 3.2% per annum between 2002 and 2006.

Increasing sales in a market where demand is softer will prove challenging to retailers, and traditional growth strategies such as opening more stores will no longer guarantee success. Retailers without an internet presence will struggle to grow over the next five years, according to Verdict. Offering shoppers different purchasing channels - physical and virtual - will be a key way to maximise opportunities as the retail market evolves. Click here to learn more about the Verdict research.