With internet shopper numbers at an all-time high and online spending growing by £2.4bn in 2009, e-retail is proving to be a star performer in the recession.
So says Verdict Research in its latest report, which predicts that online spending on retail purchases will rise 13.3% to £20.9bn this year. By contrast, total retail growth will contract by 0.6% as consumer spending is ravaged by the effects of the recession.
Verdict says online shopping is popular because internet prices are frequently lower than in stores, and it is a particular hit with the more affluent AB shoppers, who are time-poor and so like to make effective use of their limited leisure time. In fact, ABs now make up 56.8% of all online spending.
E-tail is set to reach £31.2bn by 2013, accounting for 10% of total retail spending.