According to Verdict Research, strong growth is set to continue and online retail estimated to reach£44.9 billion by 2012 – 13.8 per cent of total online spend.
The report points out that convenience is the main reason for the internet’s continued success, mentioned by more than half of the online shoppers from 4,059 adults surveyed.
Verdict Research senior retail analyst Malcolm Pinkerton said: “The internet is widely perceived as a cheaper and easier way of finding lower prices and bargains in most sectors.
“As the cost of broadband falls, consumers become accustomed to internet shopping and retailers continue to enhance their online propositions, the channel will find itself well-placed to capitalise on the falling consumer confidence.”
Electricals and grocery accounted for just under half of all online retail spend last year, with electricals taking the lion’s share at 25.1 per cent. The second largest sub-sector, grocery, is on course to take the top spot, forecast to account for 29 per cent of online sales in 2012, compared with 22 per cent for electricals.
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