June 2011
Featured in this insight: Financial services, IT & telecommunications, Retail
eBay survey reveals soar in online retail popularity since recession: Market research by online retail giant eBay has shown that there has been a major boost in Internet sales since the recession, allowing some online start-ups to achieve consumer revenues of more than £100,000.
Over 24,000 new businesses registered on eBay UK last year, reflecting a 38pc rise on last year. This is compared to an 8pc decline in 2007, before the economic downturn set in.
‘Hotspot’ locations for online start-ups are Birmingham in top position with 1,700 new eBay traders last year, as well as Manchester, Sheffield and Nottingham.
A prime example of Internet success is Glasgow retailer Peter Kenny, who has seen his sales increase fourfold since taking his fabrics business online in 2008.
He commented: “It’s been the best business decision we have ever made. It’s really changed our whole business... The start up costs are negligible from what you can get back. And from a standing start we have done really well. It’s revitalised the shop as we can see what sells online and bring it in.”
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