Online spending to hit $12bn

Online retail spending is expected to grow by 8.5% to $12 billion during 2010, a new Frost & Sullivan report reveals, says SmartCompany.

However, the author says hopes of an explosion in e-commerce in Australia are off the mark. The statement comes after online payment group PayPal released figures last week revealing 40% of all online spending in Australia is being spent on overseas sites, particularly in the US.

The F&S report reveals spending will grow by 8.5% this year, followed by 9.5% to $13.1 billion in 2011, 10% to $14.5 billion in 2012, and 10.5% to $16 billion in 2013.

Online search giant Google posted sharply higher revenue and profits last week compared to the same period in 2009 and said it experienced strong growth in emerging businesses like mobile advertising, reveals India Times.

The company said its second quarter sales were $6.82 billion, a rise of 24% compared to the same period last year. Operating income was $2.37 billion, compared to $1.87 billion in the year-ago quarter.

“Google had a strong second quarter,” says Eric Schmidt, chief executive officer of Google.

New figures reveal most people in the UK looking for a parcel delivery go online to eBay UK to make their purchase, says Parcel2Go.

eBay UK accounts for over a fifth (21.32%) of traffic to shopping and classifieds sites in the UK and is nearly four times ahead of its nearest parcel delivery rival.

The research from Internet analysis firm Experian Hitwise is based on the week ending 10 July and suggests eBay is Brits' favourite place to look for their next parcel delivery.