Online outstrips high street
7 January 2004
A report has found that online shopping is growing twelve times faster than the high street.
The 80 e-tailers surveyed by the Interactive Media in Retail Group showed that online retail had reached a record high in November, growing by 44 per cent.
Britain's 16 million online shoppers spent £1.17 billion last year, and made up 7 per cent of all retail sales.
Argos was the most visited multi-channel online retailer and the biggest increase in online spending was on electrical goods.
Head of Empiredirect.co.uk Amarjit Singh told Macworld: 'Consumer electronics is one of the fastest-growing areas of online shopping. New technology products are driving the online sales revolution.'
The IMRG believe this popularity is due to Internet shopping being 'at least four times faster than visiting bricks and mortar stores' and due to 'ease of payment, delivery and presents arriving gift wrapped.'
IMRG estimates that UK online shopping will be worth around £15 billion this year, with a predicted sales growth increasing 50 per cent year on year.
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