Verdict Research has predicted that the online shopping spend will increase by 13.3% in 2009, despite the overall retail growth declining by 0.6%.
Etail spending could reach £20.9bn by the end of the year, showing there will be more consumers turning to the Internet to do their shopping. This is coupled with the increased spend per person, as people are adding more items to their online shopping basket per etailer visit.
Verdict Research also predicts that etail spending will reach £31.2bn by 2013, which will then account for 10% of the total retail spending.
The senior retail analyst at Verdict commented that shoppers feeling the financial pinch are actually turning their backs on the Internet and heading to the cheap high street stores instead, like Primark and Poundland. However, this is being “more than outweighed” by large numbers of people looking for bargains on branded items and for this type of consumer, convenience is of more important than price, so the Internet is their first port of call.
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