News
UK online shopping continues to boom
Categories: E-commerce
18 July 2008
British consumers continued to make the most of e-commerce portals to buy goods such as clothes and alcohol in the first half of 2008.
This is according to the latest figures from the IMRG Capgemini e-Retail Sales Index, which reveal that more than £26.5 billion was spent on online shopping by UK consumers in the first six months of the year, representing a 38 per cent increase compared with the same period in 2007.
IMRG said the figure was equivalent to 17p out of every shopping pound being spent online and pointed to particular growth in the clothing and footwear sectors.
Mike Petevinos, head of retail consulting for Capgemini UK, predicted that the internet will account for up to half of all sales within the next five years.
"As online reaches a 20 per cent of all retail sales, retailers experience a tipping point which forces them to seriously rethink the future viability of their business model," he commented.
"We have seen this happen for books, music/DVDs and electricals and as the industry as a whole reaches this tipping point in 2008, more categories are sure to follow."
A recent survey by PayPoint.net revealed that online shoppers are becoming savvier when it comes to security - 98 per cent of consumers said they check security levels on a site before proceeding with purchases.
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