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Lucy Griffiths

Recession? It’s Not All Gloom Online!

18th Jul 2008 News, Industry News Less than a minute to read

Two recent snippets of news should bring some cheer amongst the incessant reports of recession and predictions of doom that seem to dominate the press at the moment.

Google announced yesterday that their revenue for the second quarter of 2008 topped $5.37 billion. This is an increase of 39% compared to the same period in 2007 and a small increase over quarter one of 2008.

Perhaps more importantly is the fact that within the UK, online shopping spend has increased by 38% in the first half of this year compared to the same period in 2007. The total amount spent online was £26.5 billion, according to findings recently published by IMRG and Capgemini.

UK shoppers now spend 17 pence in every pound online, almost 20% of total retail spending.

This could, of course, just be down to the fact that with many households feeling the squeeze they are turning online to ‘bag a bargain’ but hopefully the buoyant trend of Internet shopping will continue.

Hopefully we’ll be reporting more good news soon, including how rival London gangs have turned to hugging each other in a ‘love off’ and how Team GB are confident of winning at least one bronze medal in the Olympics*

*London, not Beijing

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