By Julian Goldsmith, 12 August 2008 11:20
NEWS
Comparison site uSwitch has predicted that online shopping will account for more than half of all consumer sales by 2026, amassing more than the high-street, mail order and telephone revenues put together.
By extrapolating figures from the Office for National Statistics, the company believes the present online shopping market share of 19 per cent will rise to 40 per cent in 2020, equating to sales of £163bn per year and going on to dominate consumer spending by 2026.
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A uSwitch spokesman said that reliable security combined with broadband speeds and pricing has made internet shopping an appealing alternative to the high street.
He said in a statement: "With less spending money than ever, it makes sense for consumers to turn to the internet. It is easy to shop at up to 50 different [online] stores in one go to make sure we are getting the best deals. With 15 million households having access to broadband connections, shoppers have instant access to the global online high street."
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1. anonymous
what a load of rubbish. where was this research done? nobody can make such an outlandish prediction.