Managed Hosting News 
Thursday, 13th October 2011, 15:26:16
Ecommerce growth opportunities 'are huge'
Smaller ecommerce businesses could enjoy a future of revenue growth after increasing numbers of consumers select alternatives to well known companies when purchasing items online, it has been suggested.
Andy Marshall, director of the corporate sector at Virgin Media Business, stated that possibilities for business growth among ecommerce brands "are huge", with internet sales now accounting for ten per cent of total retail in the UK.
"With ecommerce there is a huge opportunity to break down geographical barriers and invest in technology that will provide customers with a virtual shop-front and create another lucrative revenue stream," he explained.
His comments were made after a Virgin Media Business study found that ecommerce and cloud computing are vital to the success of their business, with online retail coming in second place scoring 27 per cent.
Researchers found that over two thirds of British companies believe that technological advancements are key factors in driving growth, stating that the right investments could revolutionise the way they operate.
In addition, the study highlighted an increasing demand for consumer gadgets in the workplace, with 70 per cent of smartphone owners revealing that they would rather give up alcohol than be without their phone.
Commenting on the results, Mr Marshall said: "Interactive Media in Retail Group recently found that the top eCommerce players, such as Amazon and Argos are being knocked off poll position by smaller innovative businesses deploying ecommerce solutions."
The findings from the study emerge after Sir Martin Sorrell, chief executive of WPP, suggested that media owners who are keen to see their businesses develop should explore opportunities presented by ecommerce.
The expert, who recently spoke at the Royal Television Society's Cambridge Convention, claimed that the industry in general needed to take notice of internet-connected platforms, which could include smartphones and similar gadgets, Marketing Week reported.
Posted by Kevin Jenson
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Categories: | Ecommerce |
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