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High street retailers spend more online to stem high street slump
A study from the Internet Advertising Bureau (IAB) predicts that UK retailers will invest more than £120m a year in 2010 on advertising online, up from £31.13m in 2004.
The top man, Guy Phillipson, said: “We’re seeing the beginnings of a trend that cannot be reversed and the traditional retail sector is largely unready to reap the benefits of e-commerce and online advertising.”
High street sales fell 2.4% in May 2005. This compares with a rise in Internet sales of 30% year on year and a 13% increase on the previous month, with online sales reaching £1.5bn. By 2010 online sales could total £60bn, 20% of all retail spend. A further 40% of high street purchases will be researched online.
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