Soaring Online Sales In The UK!
Mark Herpel
July 21, 2006
If you are selling online in the UK, you should be on the top of your game. UK Internet sales are soaring.
According to Booz Allen Hamilton, over just the past 5 years UK Internet sales have increased by upwards of 350%. It is now projected that the happy online shoppers will be spending around GBP 26 Billion in 2006. With approximately 28 million online shoppers the UK it is considered to be the largest market in Europe. The volume of their spends using plastic has increased five-fold over the past 5 years.
Currently the standard 'bank and CC' payment methods make up 90% of all UK consumer transactions. However, in the next several years, new e-payment and digital currency solutions are expected to chip away at this rock and capture a larger share of the market.
According to Nicolas Reuttner, Booz Allen Principal, "e-payment service providers will have to get exclusive partnerships and services in place, to ensure that online retailers are not able to disintermediate them in the long term, for example by offering their own solutions..."
It would seem that now is a very good time for one or more of the larger digital gold currencies such as e-gold or GoldMoney to 'partner' with a Internet retail sales operation. Such an expansion could help to quickly integrate digital gold currency into online retail sales and begin to capture some of that bulging market.
Online security is still a big concern for shoppers and around 20% of consumers in 2005 were deterred from shopping online due to these fears. However, since DGCs use a type of e-wallet account and do not require the transmission of personal, bank or credit card information attracting this segment of online buyers seems very possible.
Mark Herpel
mgmt@gold-companies.com
According to Booz Allen Hamilton, over just the past 5 years UK Internet sales have increased by upwards of 350%. It is now projected that the happy online shoppers will be spending around GBP 26 Billion in 2006. With approximately 28 million online shoppers the UK it is considered to be the largest market in Europe. The volume of their spends using plastic has increased five-fold over the past 5 years.
Currently the standard 'bank and CC' payment methods make up 90% of all UK consumer transactions. However, in the next several years, new e-payment and digital currency solutions are expected to chip away at this rock and capture a larger share of the market.
According to Nicolas Reuttner, Booz Allen Principal, "e-payment service providers will have to get exclusive partnerships and services in place, to ensure that online retailers are not able to disintermediate them in the long term, for example by offering their own solutions..."
It would seem that now is a very good time for one or more of the larger digital gold currencies such as e-gold or GoldMoney to 'partner' with a Internet retail sales operation. Such an expansion could help to quickly integrate digital gold currency into online retail sales and begin to capture some of that bulging market.
Online security is still a big concern for shoppers and around 20% of consumers in 2005 were deterred from shopping online due to these fears. However, since DGCs use a type of e-wallet account and do not require the transmission of personal, bank or credit card information attracting this segment of online buyers seems very possible.
Mark Herpel
mgmt@gold-companies.com
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