Market News
By failing to optimise e-commerce strategies, the UK retail industry is losing out on over £2.3bn revenue per year, according to a new report.
1 October 2008
The study was carried out by Verdict Consulting for shopping rewards site Webloyalty. The report says that too many online retailers are allowing shoppers – literally – to slip through their nets.
It calculates that an e-commerce site converting just one per cent more visitors into paying customers could generate an additional £678m in revenue. The report, entitled ‘How to pull customers online’, assesses strategies for ‘winning’ shoppers in the intensely competitive online environment. It examines six key stages of building successful online relationships, including how to attract customers, how to sell to them and how to increase their loyalty.
Companies in the UK will spend £2.75 billion on search engine marketing in 2008, according to research from E-consultancy.
16 September 2008
Despite fears about an overall advertising downturn as part of a wider recession, the UK search market remains buoyant and E-consultancy forecasts that growth will be around 24% for the calendar year of 2008, up from £2.22 billion in 2007.
Meanwhile, the market for search engine optimisation (SEO) will increase 32% to £330 million. SEO agencies help companies achieve prominent results in Google, Yahoo and MSN without buying advertising (these results appear on the left of the page).