Consumers aware of online retail savings

11:54 1st March 2010

Businesses in Lancashire with an online retail presence could benefit from the trend which is seeing consumers look on the web for good deals, according to an expert.

Neil Ainsworth, director of codes website VoucherSeeker, said many people are now aware that they can cut costs by heading onto the internet for purchases.

He pointed to a study by the Centre for Retail Research which revealed that UK shoppers spend more online than customers from anywhere else in Europe, while Brits are also happy to make big-ticket purchases on the web.

Online sales are now thought to account for ten per cent of total retail sales in the UK, while it is predicted that internet shopping will reach £42.7 billion this year.

"Consumers are realising that saving money lies on the internet," Mr Ainsworth explained, adding that people are also increasing their use of voucher codes when completing transactions.

Recent research published by the Institute of Practitioners in Advertising revealed that the launch of universal broadband services across the UK could boost the number of people using online retail.

It is thought such broadband access would create an additional £1.4 billion of revenue through website sales.

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