Brits to Break £100bn Online Shopping Barrier in 2014

 Monday, 7 July 2014

 Prepaid News

Brits to Break £100bn Online Shopping Barrier in 2014

Online shoppers in the UK are set to spend £107bn this year, breaking the £100bn for the first time, as more and more people turn to the web to satisfy their shopping needs.

The figure, given by Barclaycard, is the result of an average annual increase of 11% per year and due primarily to an increase in mobile shopping, on smartphone and tablet devices.

In another survey conducted by Google found that 68% of Brits now own a smartphone and at least 30% of British shoppers have made at least one purchase using their smartphone, the highest of any European country.

Music downloads were found to be the fastest growing online shopping sector, with sales up over 120% on last year, which has led to 75% of all music purchases in the UK being made online.

The average amount that people were spending online each year was found to be £948, with £107 being spent on items which consumers never got round to using.

Managing Director of Barclaycard, Chris Wood, said: “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.”
Source: BarclayCard – May 2014