UK consumers spent a massive £250 billion on internet shopping in the last decade, with e-tail set to double again over the next ten years.
According to the IMRG Capgemini e-Retail Sales Index, sales during 2010 are expected to reach £56 billion – compared to just £1.8 billion when the Index started in 2001.
IMRG chief executive James Roper said: “Britons are passionate about shopping online. The combination of ease, convenience and 24/7 access is incredibly compelling. We expect to see that relationship strengthen over the coming decade and by 2020 we predict that the internet will account for half of all retail sales and influence most of the other half.”
IMRG and Capgemini predict that the UK’s online retail market will grow by 110 per cent over the next ten years, reaching £123 billion by 2020. Growth is expected to slow to 6 per cent year-on-year.