E-commerce businesses were riding on a wave of fast growth till 2007 when the sales grew 18% YoY. Sales growth slowed to 13% in 2008 and is expected to slow down further to about 10% in 2009. This growth has come in spite of the global economic crisis, and is a clear indication of the strength of e-commerce.
E-commerce websites have been growing by double digits over the last few years. The economic recession has slowed down the growth, but sales are still rising, contrary to the falling sales of brick and mortar stores.
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