Thursday July 17, 04:01 PM
Huge Surge In Online Shopping
By Sky News
Online shopping now accounts for almost a fifth of all retail spending - and experts say that figure will rise to as much as a half within five years. More than £26bn was spent online in the UK in the first half of this year - according
to new figures - up 38% on the same period in 2007, despite the credit crunch.
The IMRG Capgemini e-retail index says that 17p in every pound was spent online - roughly equivalent to half of all supermarket sales, and larger than all retail sales for clothing and footwear.
It found that many shoppers were buying everyday items online, and that 56% of people believe shopping online is more environmentally friendly.
The index suggests that online sales are proving resilient to tough trading conditions as frugal shoppers seek to make the most of their available income.
Mike Petevinos, head of consulting for retail for Capgemini UK, said: "Convenience has a sharper edge in a world of soaring fuel prices.
"We predict that between 30% and 50% of all retail will be online in the next five years as new drivers, such as sustainability, are added to the mix.
"This is because, as online reaches 20% of all retail sales, retailers experience a tipping point which forces them to seriously re-think the future viability of their business model."
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