Internet Retailing again and the headline "80% online growth as July sales hit £4bn".
But the headline masks the quote lower down:
"This data is sound. It reveals the extent to which the retail sector is being transformed by frictionless e-commerce. Major brands are bringing on-stream the next generation of slick new internet retailing services, and consumers are flocking to use them. It's big players' success that is now driving e-retail growth and boosting the Index."
It's that last bit that interests me. We all know the big players can and will do it, but just a couple of weeks ago the House of Lords Science & Technology Committee and FSB said:
"The Federation of Small Businesses (FSB) has highlighted the significant numbers of small and medium sized enterprises (SMEs) being deterred from e-commerce, following a report by the House of Lords Science & Technology Committee. Despite the fact that the geographical reach of the Internet makes it possible for SMEs to compete in the global market at low cost, just 18% of SMEs are selling on-line."
Their conclusion was that it was the risk of credit card fraud that was the issue:
"The risk of credit card fraud is a significant concern to 19% of businesses, yet only 6% have actually experienced on-line credit card fraud."
When you look at that it just does not seem to stack up. Yes credit card fraud may be a nuisance but that is all really. Great for politicians and the FSB to do a press release but hardly enough to warrant not trying to make some money.
And small firms can make money - I know one small retailer with a turnover of about £3.5 million who's internet sales have gone from £12,000 p.a. to £600,000 p.a. in just 14 months.
So what is it that makes SMEs so reluctant to take up the chance? They are by far the largest part of the economy and if this attitude stays it looks like EStreet will be more bland than the high street.
Is it fear? Lack of knowledge? Lack of interest?
Food for thought.