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Online retail set to top £40bn this year

Online retail set to top £40bn this year

Figures from the Office for National Statistics (ONS) show that online retailers are set to generate more than £40 billion worth of sales in the UK this year.

The massive popularity of the internet is allowing those who engage in online advertising to cash in, with an ever growing legion of consumers turning to the value and convenience offered by web-based retail.

Topping £40 billion in sales would signify an increase of around a third from last year's sales. Factors that helped included the rainy summer, which persuaded a greater number of shoppers to shun the high street in favour of the internet.

A separate piece of research from Savebuckets.com shows that more than a third of British consumers are likely to buy Christmas gift over the internet this year.

Last year, £7.7 billion was spent on line.

"With government figures showing that 70 per cent of people who have shopped online have not experienced any problems in doing so, it is clear that confidence in online shopping is growing," said Marc Ames of Savebuckets.com.

"This growing confidence, coupled with increased accessibility to the internet and opportunities to save money online, mean that the internet is now a far more appealing shopping destination than it was a few years ago."


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