PaymentsSource Webinar Available for Public Viewing

Last week I posted "PaymentsSource Webinar Review" about attending a webinar on a new online publication coming out from SourceMedia they call "PaymentsSource."

SourceMedia publishes American Banker, Bank Technology News, ATM & Debit Card news and more.

If you would like to view a replay of the webinar you can click below:

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Top UK Retailer Pins Hopes on Web

eMarketer reports that the John Lewis Group, UK's leading store group saw online sales grow at a 30% clip while the groups department store physical locations saw a 34% drop in operating profit...


Top UK Retailer Pins Hopes on Web - eMarketer

Top UK Retailer Pins Hopes on Web
SEPTEMBER 19, 2008

Karin von Abrams, Senior Analyst

On September 11, John Lewis, the leading UK store group, announced a 27% fall in pretax profits for the first half of 2008.

Earlier this year, the company said it hoped to avoid the worst effects of the impending recession thanks to its loyal customer base, the opening of several new stores and significant diversification into Internet selling.

That hope in Internet sales may be well-placed. Retail e-commerce sales in the UK are predicted to reach £44.9 billion ($80.8 billion) in 2012, up from £19.5 billion ($38 billion) in 2008, according to Verdict Research data cited in Internet Retailing.

UK Retail E-Commerce Sales, 2002-2012 (billions of £ and % of total retail sales)

eMarketer estimates that B2C e-commerce in the UK will reach £94.2 billion ($169.6 billion) in 2012, up from £59.8 billion ($116.6 billion) in 2008.

Verdict's figures are significantly lower than eMarketer's because Verdict excludes air travel and tickets from its estimates, whereas eMarketer includes them. Verdict also gathers data from UK adults only, while eMarketer estimates include online sales to UK residents ages 14 and older.

The John Lewis group, owned as a cooperative by its employees, made pretax profits of £108 million ($191 million) in the six months to July 26, 2008, said a spokesman. Sales overall rose 3.6% to reach £3.27 billion ($6.38 billion).

The company's physical stores are bearing the brunt of the economic storm.

Operating profit at the group's department stores was down 34%, and at its Waitrose supermarkets—considered pricier for consumers than other major grocery chains—operating profit fell 8%. Price cuts and promotions, designed to appeal to worried shoppers, accounted for much of this loss.

But the group's Internet ventures continued their recent robust performance, strengthening hopes that online shopping will help John Lewis come through the current downturn in good shape. During the first half of 2008, online sales rose a healthy 30%.

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Irish e-Commerce Retailers Daily Sales Rise

SiliconRepublic.com: Irish retailers are selling €12m a day online - Business

Irish businesses are now selling up to €12m in goods and services online every day, an e-commerce strategist has claimed.

Ennis-based e-commerce strategy company Magico.ie said that while traditional retailers are facing a downturn, online retailing is on track to break new records.

Paul McGurran, director of e-commerce at Magico.ie, said that despite the current economic climate, “online retailing” is still very much in growth mode compared to traditional high-street retail activity.

“Although traditional high-street retail activity is suffering a downturn, internet sales in Ireland are likely to smash all previous records this year as more and more drop the high street for the information super-highway.

“For example, according to Realex Payments, peak online sales in Ireland reached €12.7m on 4 December 2007 last year, declining to €7.3m in subsequent days during the Christmas period. In 2008, average daily web sales in Ireland are now exceeding €12m per day’.

McGurran pointed to recent research in the UK showing that internet sales will continue to grow and the web channel will claim more than half of the retail market pie by 2026.

“This increase in online retail activity is being stimulated by numerous factors, including greater broadband penetration across Ireland and time-poor and price-conscious consumers.

“Furthermore, the rising price of fuel is the main reason behind consumers’ inclination towards web shopping, with users spending an average of 1.6 hours each week buying on the internet,” McGurran added.

Magico.ie was established in 1999 and currently employs 13 people at its headquarters in Ennis, Co Clare. Its current client base includes Fujipix.ie, The Bag Shop, Smyths Toys, Irish Auctioneers & Valuers Institute, Evergreen Healthfood, Munster Rugby Supporters Club, Freshways Sandwiches, Sisk Builders and Fitzpatrick Design Hotels.

The Magico.ie team consists of industry experts who have worked on large Irish and overseas ICT projects with partners such as IBM, Microsoft, Tesco.com, Ireland Online, Bank of Ireland Asset Management and many more.

Retailers wishing to develop an ecommerce Strategy are being invited to attend an e-commerce Seminar from 7-9pm at The Morgan Hotel, Templebar, Dublin on 15 October 2008. For more information go to www.magico.ie

By John Kennedy

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