Wiggle enjoys UK internet economy boom

Figures released yesterday reveal the UK’s internet economy is worth billions – and here @ Wiggle we can see exactly why.
The research shows the internet is worth £100bn a year to the UK economy and its contribution to GDP is set to grow by about 10 per cent annually. This news comes as no surprise to us, as we’ve seen sales and traffic rocketing in the past year. In September, our site received more than 3.5 million visitors, which was a 52 per cent increase on the same period last year. Overseas business has grown phenomenally too with a 416 per cent increase in overseas transactions and a 225 per cent increase in revenue.

The report, commissioned by Google, found that if the internet was an economic sector, it would be the UK’s fifth largest. This would make it larger than the construction, transport and utilities industries. With sales of cycles and cycling apparel more buoyant than ever, the future looks bright for an already successful online bike shop such as Wiggle.

Martin Talbot, Wiggle’s director of marketing, said:

“This is great news for the online industry and shows to us that online retail is really on the up. We know that people shop at Wiggle because shopping online is convenient, safe and simple. The range of products available and value for money makes it increasingly popular for consumers. For this reason, we expect the figures to keep on rising.”

The report, The Connected Kingdom: How the internet is transforming the UK, says the UK is the world’s leading nation for e-commerce. Matt Brittin, managing director of Google UK, said:

“The internet is a central pillar of the UK’s economy. The sector has come of age and will be vital to the UK’s future prosperity.”

At last week’s IMRG e-Commerce Awards for Excellence 2010, Wiggle won the title of Cross Border e-Retail for its strong overseas sales and growth.