You are here: Home - Uncategorized -

Online retailing powers ahead in the UK as sales triple

Written by:

The amount of money spent online by UK consumers increased by 33.4% to £10.9bn last year, according to retail analysts Verdict Research.

The research group said that faster and cheaper Internet access was powering the growth at a time when many High Street retailers are witnessing a decline in demand.

Of 3,000 customers surveyed, two-thirds had broadband Internet connections and shopped online more for this reason. The company’s research covered online spending on goods, and did not embrace flights, tickets and insurance.

Verdict commented that food retailers that were not already providing an online service were keeping away from the sector as the cost of launching a web operation was prohibitively high.

And small, specialist retailers were avoiding the online arena because the small scale of their operations made it hard to fund the necessary infrastructure.

Verdict predicts that in 2011, online retailing will be worth about £28.1bn, or about 8.9% of the UK’s total retail sales.

“Even with some retailers staying out of the market, online sales in the UK are set to triple in value,” said a spokesperson for Verdict.

“By 2011, the typical spend of an online shopper will grow to £1,056 a year, with the clothing and footwear, DIY and gardening, and food and grocery sectors achieving the fastest growth.”



Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Government goes after the villains’ cash with new zeal

People could receive a share of recovered money if they blow the whistle on major fraud against the Government or...