Huge numbers for web shopping in the UK. At £30 Bn. up from £19.2 Bn in 2005, it accounts for 10% of retail spending.
Finextra: UK shoppers spurn high street for the Web
The survey found that one in 10 UK consumers now buying over the Internet and sales have grown at an average year-on-year rate of 45% for the past six months. Overall there has been a massive 2000% rise in Web shopping over the past six years. IMRG says the online retail market in the UK is worth £30 billion.
And significantly the web has an even greater impact, as it is used to prepare for purchases, in addition to the further growth expected.
IMRG also predicts that a further £30 billion worth of traditional high street shopping is impacted by the Internet as consumers conduct research or react to information found on the Web.
This trend looks set to continue as over half of consumers surveyed say the plan to reduce their high street spending in the next 12 month, while 44% expect their online shopping to increase.
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