SKYPAY PROVIDES ONLINE
PAYMENT FACILITIES.

Online spending in the UK is set to reach £56bn by 2014 as the web defies the recession, according to analyst Forrester Research.

Internet sales will grow at a yearly rate of six per cent over the next six years, says the survey, which covered more than 4,100 UK consumers as well as large retailers with a web presence.

According to Forrester, around 28 million UK consumers shop online today and the figure is set to jump to 37 million by 2014, the equivalent of £56bn in value.

"For the past decade, online shopping in the UK has been driven by a virtuous cycle,” said Forrester retail analyst Victoria Bracewell-Lewis.

"Growing numbers of UK online shoppers and growing online spend per shopper encourage retailers and travel operators to improve their online offerings, which in turn draw more shoppers and higher spending.”

According to the IMRG Capgemini e-Retail Sales Index, UK shoppers spent over £4.6bn during the Christmas period last year, an increase of more than 14 per cent year on year - equivalent to £76.67 for every person in the UK.

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25th February 2009

Pro-technology

Now that the recession is properly upon us, it's crucial that businesses spend every penny of IT investment on products that deliver real business value and absolutely fit their requirements. Keeping the cash flowing will keep businesses afloat and investing in software that facilitates electronic payments and direct debits should be at the top of every business' shopping list. These will prove essential in managing supplier payments and customer collections - but only if they are secure and robust.

Mike Petevinos, head of retail consulting at Capgemini, believes online shops are more resistant to tough trading conditions than bricks-and-mortar stores.

"Convenience has a sharper edge in a world of soaring fuel prices and the ability to research and make more informed choices in a time of heightened price sensitivity is a key advantage of the online channel," he said.

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17th February 2009

Online spending shows strong annual growth in January

Latest figures from the IMRG Capgemini e-Retail Sales Index show that UK shoppers continued to spend enthusiastically online in January. Online shoppers are still not being put off by the recession as spending in January rose by 19% compared to the previous year. This is an increase from the stable 15% growth seen throughout the second half of 2008.

So what does this mean for retailers? The strong performance of online points to a continued need to invest in the development of their e-commerce propositions.
Jo Evans, Managing Director of IMRG, said:
“During these challenging economic times it is clear from the latest Index results that consumers are continuing to use the internet to their advantage. This is especially apparent when it comes to searching out the best available deals and promotions. Recent research shows that online searches for discounts have soared by over 100%, a clear indication of how consumers are becoming more price sensitive.

We continue to see a major shift in the way consumers shop as more and more are realising the benefits and savings in both time and money when shopping online. However, consumers’ higher expectations, together with more sophisticated shopping patterns, mean that retailers must both fully understand their market and customer base in order to stay ahead in this challenging climate.”

Our clients had benefited from secure transactions and online facilites for many years, and as Skypay moves into 2009 we prepare to supply PCI DSS-compliant services and 3DSecure payment facilities for a whole new genaration of clients and their businesses.