Online Xmas shopping rise predicted
Updated on 10 November 2008
Hard-pressed Christmas shoppers are predicted to turn to the internet this year, pushing sales to 15% higher than last year.
Shoppers are forecast to spend £13.16 billion online in the final quarter of 2008 - the equivalent of £215 per person, according to IMRG (Interactive Media in Retail Group) and Capgemini.
While the figures are 15% higher than the same quarter last year, they show a slowdown in growth compared with the 54% year-on-year increase seen in 2007.
Monday December 8 is predicted to be the biggest online shopping day of 2008, with sales worth £320 million.
It is expected 42% of those sales will take place outside of traditional shopping hours, either before 9am or after 6pm.
The peak shopping hour is expected to be between 1pm and 2pm on December 8, when £28 million will be spent online.
Mike Petevinos, head of consulting for retail at Capgemini UK, said: "Online sales look set to ride the economic storm and continue to be the place retailers can look for growth.
"Getting this channel right and overcoming the delivery issues of last year will be key to looking back on the holiday season with a smile."
IMRG chief executive James Roper said: "British shoppers will beat the crunch with internet prices this Christmas, spending more than a billion pounds each week in the run-up.
"The internet is well established as one of consumers' most powerful economic weapons against tough times. Retailers and suppliers will be under extreme pressure to price competitively this year, so there will be a lot of volatility out there and fantastic bargains."
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