The report said that shoppers are likely to be spending £12.5 billion on-line by 2005, or 5% of total retail sales. 87 of the UK’s top 100 retailers now have web sites, of which 36 are transactional.
Interactive television is expected to boost the clothing market while the grocery market is reported as leading the way. Mobile phones and other technology are expected to make a significant contribution to on-line sales.
6% of on-line sales are expected to be in new business while 94% are from existing business.
Verdict believes there is a massive, untapped potential in the UK among those with internet access who do not yet make on-line purchases. It believes that the two major obstacles are delivery and security. According to its market research, 41% of internet users are worried about disclosing financial details to web sites and 25% cannot find convenient delivery times.