Britons tipped to embrace e-commerce more heavily

11:56 24th June 2009

Cost-conscious Britons are set to spend more on e-commerce sites over the next few years, new estimates suggest.

According to a report by Experian, the UK's online shopping sector is likely to be worth more than £21 billion in two years time - 137 per cent more than at the end of 2008.

The study, which was commissioned by Paypal, said this is partly because the national economy is likely to remain in its current slump for the foreseeable future, which means people in the country want to make the most of their money.

More than a third of consumers polled by Experian said they find it easier to manage their finances by shopping on the internet, and nearly half said e-commerce stores offer better deals.

This could help to account for the likely drop in high street sales, which are predicted to fall by 1.4 per cent over the next two years.

Carl Scheible of Paypal UK commented: "The value of online retail can no longer be dismissed as a sideshow."

This comes after the latest IMRG Capgemini e-Retail Sales Index revealed that online sales in May 2009 reached £3.7 billion.

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