Online shopping suffers

Posted on 31 Oct 2008 at 15:19

British consumers have reduced their visits to online retailers or the first time since records began three years ago. Internet research firm Hitwise said traffic to online retailers fell 0.5 per cent in October compared with the same month in 2007, marking the first time there's been a monthly traffic fall.

Online retail had previously been thriving, but the well publicised global credit crunch has damaged its growth.

"Up until now, online retail has been surviving the economic downturn, but this month's data proves that the sector is not immune," said Robin Goad, director of research at Hitwise.

He said sub-sectors such as supermarkets were still benefiting, with internet traffic to the major grocers up 10 per cent year on year. Soaring demand for secondhand goods also proved a boost for classified retailers, who enjoyed a 47 per cent jump over the same period.

The internet research firm warned that worse may be to come, as the impact of new shopping centres opening will make it even harder to shift stock online. Europe's largest city-centre shopping mall, Westfield, opened in London yesterday.

Author: Dawinderpal Sahota

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