Internet shopping in Britain will be worth 12.5 billion pounds ($18.8 billion) a year by 2005, or 5% of total retail sales, according to wire service reports.
Retail consultancy Verdict Research Ltd. said 94% of the predicted online sales will be “cannibalized” from existing stores and catalogs, while the rest will be new customers. The consultancy warned that retailers can no longer afford to have just one route to the market.
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