Online retailers positive about growth in 2013

A new retail survey initiated by Barclays confirms 66 percent of British online businesses are optimistic about their sales prospects for the coming year. The Barclays online business outlook finds that the online retail sector continues to perform better than

the overall economy despite the current difficult consumer environment. Some 48 percent were also positive about the UK economy in general. With the UK economy growing just 0.2 percent in the same period, the online sector is growing at a rate of 57 times faster.

Of 300 online businesses interviewed, the average firm reported 11.4 percent compound annual growth over the past three years. During the same period the UK economy grew by just 0.2 percent, said the bank.

Sean Duffy, managing director and head of technology, media and telecoms at Barclays, said: "Online businesses have bucked the trend over the last three years and experienced success in spite of the stagnant economic conditions. The next challenge for companies operating online is sustaining this level of growth and ensuring that they take advantage of new and rising trends. We are advising our online clients to become mobile-ready, as it's a significant opportunity, particularly with the imminent roll out of 4G networks across the UK due to make mobile browsing easier for more and more consumers."

However, the survey also showed 89 percent of online businesses had not yet developed their website for mobile devices.

Mobile sales generates increased revenue

The online businesses that have developed mobile sites or apps generated 27.8 percent of their revenues from mobile in 2012, an average of 2.5 million pounds.

34 percent of online businesses questioned reported a rise in mobile traffic to their website since Christmas last year, compared to the same period the year before.

53 percent believe that 4G networks will increase mobile traffic to their website further still.

Image: Online shopping