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 Monday, 20th June 2011, 16:13:08

Ecommerce technology market 'to be worth £690m this year'

Ecommerce technology market 'to be worth £690m this year'

The ecommerce technology sector is set to rise in value over the coming months, new research has revealed.

According to Econsultancy, the channel will grow by 14 per cent by the end of the year, making it worth an estimated £690 million, as consumer demand encourages retailers to invest in their online sales platforms.

Revenues from ecommerce vendors generated through maintenance, technology and consultation fees were all included in the market valuation.

The research follows on from an IMRG study that found Brits spent £5.3 billion online in May - an increase of almost a fifth year on year.

Previous figures from the IMRG Capgemini e-Retail Sales Index showed shoppers in the UK shelled out £79 per person on purchases made via the internet in February.

Jake Hird, senior research analyst at Econsultancy, said: "It is simultaneously an exciting and challenging time for ecommerce professionals, as the platforms underpinning the industry are in an unprecedented state of flux."

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Posted by Phil Williams ADNFCR-1984-ID-800585096-ADNFCR

Categories:  |  Ecommerce  |  

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