The average British household is set to spend some £4,000 online this year, according to new figures from Barclaycard.
It was discovered that – on the 30th anniversary of online shopping – Brits are to spend more money than ever from the comfort of their own homes. In total, some 20 per cent of credit card transactions will take place online, as each household spends an average of £4,000, yahoo.com notes.
All of this will combine to elevate the total amount spent online by 11 per cent. This matches recently published figures by IMRG which claimed that total spending this year would reach £107 billion – the first time it has ever broken the £100 billion mark.
Air travel remained the biggest sector for online spending, although music downloads posted significant growth. Elsewhere, ticketed events and entertainment also saw a rise as people move away from over-the-phone or in-person purchases.
Commenting on the findings, Barclaycard managing director Chris Wood noted that businesses which still aren’t using credit card processing need to get on with it quickly or risk losing out to their closest competitors – something that it could take years to remedy.
He told retailtimes.co.uk: “Online shopping has come a long way since it first emerged in 1984 and now accounts for one in every five pounds spent on credit and debit cards in the UK.
“More and more of us are turning to the web to research, compare prices and buy everything from cinema trips and electronics to the latest fashions, making it an inextricable part of modern retail.”