Selling online - Hedging against the high street gloom

This article is brought to you by Retail Technology Review: Selling online - Hedging against the high street gloom.

Marks & Spencer's latest trading update cast more gloom on the financial markets confirming a significant slow down in like for like store sales, however, hidden away in their figures will be a gleaming gem of information - they are well on their way to reaching their 2010 online sales target of #500 million per annum.

That represents a remarkable transformation for one of the UK's most enduring brand names, not only in achieving such a seismic shift from its historical high street presence towards a Bricks'n Clicks business model, but by putting paid once and for all the notion that the Internet is still the preserve of gamers and geeks.

David Geran, Director of InternetRetailer.biz commented "For years now we have seen a gold rush of small independent retailers adopting the Internet as a vital additional sales channel for their business. What we are seeing now are the multi-nationals finally waking up to the only growth area of retail left, the Internet."

With online retail sales due to reach an incredible 50% of all UK retail sales by 2018, not only are consumers choosing convenience before visiting their local high street, an increasing number are trying their own hand at online retail.

"The barriers to selling online are no longer there. Since May we have experienced a 10% month on month increase in working professionals, home-makers and retired folk signing up to create their own online retail presence. The Internet more than anywhere else in business helps create a level playing field for all sizes of retail ventures."

"There is still much to play for in Internet retail riches and everyone has the means to claim a stake in this virtual market place."