Web sales reach £26.5 billion so far this year
Web sales reach £26.5 billion so far this year
Tuesday, 12 Aug 2008 12:01
Record web sales of £26.5 billion so far this year have been noted by independent price comparison site uSwitch.com.
A study by the online resource notes that consumers now spend an average of 1.6 hours shopping online every week.
Web-based sales are expected to make up nearly one-fifth (19 per cent) of all UK retail spend this year and is predicted to represent more than double this (44 per cent) by 2020.
Based on these findings, uSwitch.com predicts that online shopping will overtake that on the high street in 2026.
The ongoing effects of the credit crunch, such as increasing fuel prices, are identified as contributing factors to web-based retail growth.
"With households making an average of 42 large grocery shops every year, the fuel costs soon add up. In fact, on top of their shopping bill, families are currently forking out an additional £53 a year just driving to and from the supermarket," uSwitch.com notes.
The publication of these findings follows comments made by Mike Petevinos, head of consulting at Capgemini UK, who recently stated that the web offers consumers more choice than the high street.
