Our Monmouth Blog

The New York Times reported a story today by The Associated Press that “Online Sales to Grow 17 Percent in ‘08” in spite of all the current negative economic news.

NEW YORK (AP)– Online spending is expected to rise a robust 17 percent this year, despite a sluggish economy that has bruised many brick-based retailers, according to an annual survey to be released Tuesday.

Retail sales online, excluding travel purchases, are set to grow to $204 billion in 2008 from $174.5 billion last year, fueled by sales of apparel, computers and autos, according to a survey conducted by Internet analysis firm Forrester Research for Shop.org, the online arm of the National Retail Federation trade group. That projection is below the 21 percent increase seen in the prior year, but industry officials attribute it to the maturing of the business, not the sluggish economy.

If your business is not already online now is a great time to establish an online presence. Below are a few reasons why this is a good idea:

• Increased Visibility
• Being online improves your credibility and brand
• Customer convenience: 24/7 access to merchandise and information
• Increase your market place from local to global
• Customers and competition are already are online
• Minimum investment with high return on investment (ROI) potential

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Best Wishes!

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