Online sales growth defies recession

The latest metrics on the UK economy confirm that online business is booming, despite the recession. Meanwhile, growth remains modest in high-street shops.

The volume of transactions online is up almost 17%. This is impressive! Such strong growth would be worthy of applause in prosperous times; but these figures emerge triumphantly from the gloom of a serious recession, like the mythical phoenix. Indeed, this is the worst economic depression since World War II. In old-school physical bricks-and-mortar shops, sales have grown by only 3.3%.

Behold, as the new online economy outshines the old economy. The web is showing us a tangible source of hope and light in dark times.

I feel privileged to live in such exciting times. The last big step in the evolution of modern civilisation was the Industrial Revolution. We are now in the early stages of a transition that is even bigger and faster -- the Internet Revolution. We are witnessing history-in-the-making. These changes will be remembered and celebrated forever. And we're part of it -- right here, right now. Your great-grandchildren can say you were there.

25 August 2009

Tags: online sales growth high-street online vs high-street internet revolution digital revolution history recession business economy