Alistair Darling?
As 2007 drew to a close, the UK e-commerce community celebrated a 54% year-on-year growth for the all-important fourth quarter, capping another year’s heady growth.
My how the world has changed since then. Still in the grip of the credit-fuelled boom, we’d come to expect these kinds of figures.
So what now? A forecast from IMRG, which just hit my inbox, suggests that this year growth will slow to 15%. Hold on a second… double digit growth? In the midst of an economic crisis Captain Darling memorably described as “the worst they’ve been in 60 years“?
I’d call that not such a bad outcome.
I’ll be even more interested to watch what happens following the central bank’s decision to slash interest rates to 2/3rds of where they were last week.
What is clear though is that online continues to show growth – both in sales and in marketing expenditure – even during the most severe downtown the economy has demonstrated in my lifetime.
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