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08/06/09 - Ukash comments on slowing growth of the online retail sector

According to statistics released by IMRG, the leading global body for e-retailing, the online retail market is the standout performer among retail channels. The IMRG Capgemini Index states the e-retail sector continues to outperform high-street retail, but growth of the online market is slowing. The e-retail sector is still healthy even in a recession because those with less money to spend are turning to the internet to search out bargains on branded items. However, the number of online shoppers is not growing as rapidly as it has in past years - between April 2008 and April 2009 the UK e-retail market grew by 14%, indicating a record period of low growth compared to the last nine years. With great potential for further growth in this sector, Ukash provides an opportunity for online retailers to attract more customers by offering a secure and private cash payment method.

Mark Chirnside, CEO of Ukash said, "Internet shopping has been hugely successful and has grown rapidly, but for this to continue online retailers need to consider their strategies and make their products available to as wide a group of global customers as possible. A safe and secure cash payment solution for retailers to offer their customers is the way forward in the e-retail sector. It provides an opportunity for further growth of online shoppers as more people will be willing and able to shop online."

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