Half of all UK retail sales will be online in 10 years

The internet is going to continue to make steady inroads into British retail over the coming decade. An analysis by Retail Economics for the law firm Womble Bond Dickinson found that the internet currently accounts for 19 percent of total retail spending in the UK. That is forecast to rise to 33.8 percent in 2024 before hitting 53 percent in 2028.

The analysis states that this will create significant challenges for high-street retailers and stores will have to evolve from product distribution hubs to more meaningful customer experience environments that offer discovery, entertainment and escapism. The welding together of physical and online retail will be driven primarily by younger people who have grown up with the internet eventually accounting for over half the UK's population.