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Online is still a good place to be

Tanya Goodin
Tanya Goodin
CEO
4 July 2008

Another day and more deeply depressing headlines about the UK economy. Firms ‘feel worst’ for 16 years and UK confidence near all-time low just two of the headlines on news.bbc.co.uk which greeted me this morning. It’s enough to make us all pack-up and leave the country (and incidentally the Canadian government are currently offering some very attractive incentives to do just that if you’re tempted…).

But, in the midst of all this doom and gloom there are still firms posting good news. And for those of us focusing on the trading that’s going on online rather than trading via bricks and mortar, let’s not lose sight of the fact that where we are is still a very good place to be.

Only a couple of months ago online retailer ASOS announced that their turnover was up 80% . But it’s not just turnover that looks healthy, online profits are doing well too. City analysts have issued dire profit warnings for most of the retail sector, with M&S’s profits expected to be down 27% year on year and DSG falling a staggering 60%. But  ASOS is tipped by analysts to show profits up 163% this year.

Why are we not hearing about any of this when we lift our daily papers? Well bad news sells of course and to my mind it’s yet more evidence of the mainstream media still not taking online very seriously. So let’s just sit quietly in our corners and keep delivering the good news for our clients and customers. Sooner or later the penny will drop…..

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