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Online retail set to exceed £77 billion this year

The value of the UK’s online retail market is set to reach £77bn in 2012, representing an increase of 13% on last year’s figures, according to a new report.

Currently, 30% of all cross border e-trade in Europe goes through UK retailers, with the UK exporting more than the rest of Europe’s e-retailers put together.

Research carried out by the Interactive Media in Retail Group (IMRG) identified 228,000 online retail businesses in the UK, and this number is expected to double to 1.5 million by the year 2015.

Mobile devices are also playing an increasing important role in e-commerce, with sales via mobile devices growing from 0.4% of e-retail sales at the start of 2010 to 5.3% over the course of two years. While 2.6% of visits to e-retail sites were made via mobile devices in 2010, this figure increased to 8.2% in 2011, and is likely to continue rising.