Online shopping has bucked economic trends by registering a significant increase in spending.
A new report has revealed that in the first half of 2008 the total amount spent by internet shoppers in the UK climbed to £26.5 billion, 38 per cent up on the same period last year.
The figure represents 17p in every pound that consumers are dipping into their pockets for.
According to the survey, produced by e-commerce group IMRG and consultancy Capgemini, online sales now account for almost 20 per cent of overall retail spending.
One reason for the sharp increase, apart from the convenience of online shopping, is that consumers, faced with rising prices, are taking greater care over their budgets and are looking for discounts.
Despite the rise, the survey reported that the credit crunch and inflation had had an effect on internet sales, with the traditional January and June dips more pronounced this year than in 2007.
However, Mike Petevinos, the head of retail consulting for Capgemini, said: “While online retail is not immune to the credit crunch, it is showing greater resilience than the high street. The online channel continues to give thanks to the traditional drivers of convenience and choice, but these appear to be magnified by the current economic environment.”
E-retailing still continued to outstrip bricks and mortar outlets in many sectors.
James Roper, chief executive at IMRG, said: “Clothes and footwear sales were the biggest losers in physical stores in June, with sales either flat or lower than last year despite heavy and widespread discounting. Online, they were the big winners.”
Date:18 July 2008
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