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The prediction by Interactive Media In Retail Group (IMRG), which represents e-retailers, comes amid rising confidence in internet shopping and the growing popularity of home broadband connections.
The expected £30 billion of online spending this year represents a 56 per cent increase on the £19.2 billion spent last year. A further £20 billion of nontraditional retail spending online — such as on gambling and financial services — is also forecast this year.
IMRG also predicts that another £30 billion-worth of conventional high street retailing will be affected by the internet as consumers conduct web-based research or react to information found online.
The group found that £3.6 million was spent on average each hour in online shopping last month, resulting in a total of £2.6 billion for April. In the six years since April 2000, when IMRG began to track online sales, British shoppers have spent more than £64 billion.
IMRG also found that online sales have increased at an average monthly rate of 45 per cent year on year over the past six months — up 2,000 per cent on 2000. The body said that it had raised its forecast for growth this year to 40 per cent, up from 36 per cent previously.
The IMRG survey, which canvassed more than 3,900 consumers, found that 52 per cent planned to reduce their high street spending in 2006 as they seek out the convenience of internet shopping. By contrast, the survey found that 44 per cent expected their online shopping to increase in the next 12 months.
James Roper, chief executive of IMRG, said that although Norway, Sweden and Taiwan were the leaders internationally in terms of consumer spending online, the UK was the most advanced nation for the range and innovation of services. “With 26,000 different companies trading online (in the UK), there is a huge amount of innovation,” he said.
In addition, he said, factors such as the language and legal system, which people tended to trust, had made Britain a more attractive destination for internet shoppers.
Mr Roper said that the findings struck a warning note for retailers who had not adapted to the internet. “With nine times as many online consumers intending to increase their spending in 2006 than those who will increase their high-street spend, the impact of poorly co-ordinated web and retail channels could prove costly for retailers.”
In terms of sectors, IMRG found that online sales of electrical products increased by 101 per cent last month, year on year, having hit its peak in December last year. Sales of clothing, footwear and accessories, which recorded a record high in November last year, were 33 per cent up in April, compared with the same time last year.
Amazon UK was the most-visited online retailer, the research found, closely followed by the website of Dell, the computer maker. Other British retailers to feature among the top ten included Tesco, the supermarket group, and Argos, the catalogue retailer.
Expedia, the travel agency, came top among travel e-retailers, closely followed by easyJet, the low-cost airline. Online travel retailers constituted the greatest proportion of the sales by sector.
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