Shoppers keep clicking to boost online revenues
ONLINE spending continues to be a star performer in the recession, despite the downturn battering the high street, according to a report out today by Verdict Research.
Online retail purchases are set to rise in 2009 by 13.3 per cent to £20.9bn. In a stark contrast, overall retail growth is expected to contract by 0.6 per cent as consumer spending is hit by the recession.
The current resilience in the online market follows last year’s trend when there was a one per cent increase in internet users, to 34.4m, and an 18.1 per cent increase in online shoppers to 26.7m. Each of these individuals spent an average of 5.8 per cent more compared to 2007.
Online retail is proving to be a winner in the downturn due to its gearing towards cash-strapped consumers. Prices are frequently cheaper than they are in stores, and due to intelligent search engines shoppers are able to search out bargains more easily.