The research predicts etail spending will reach £20.9bn by the end of 2009, driven by the continued increase in the number of internet shoppers and higher expenditure per head. It will reach £31.2bn by 2013, accounting for 10% of total retail spending.
Malcolm Pinkerton, senior retail analyst at Verdict, said, “There’s some evidence that the most financially squeezed shoppers are abandoning the internet in favour of cheaper high street shopping at the likes of Primark, Matalan, Poundland and the grocers, particularly in sectors which retail smaller, lower-priced items, such as homewares, DIY and clothing.
“But overall this is being more than outweighed by an increasing number of bargain hunters looking for larger, branded items, and the loyalty of those most financially comfortable consumers who continue to value convenience over price,” he added.
This story first appeared on newmediaage.co.uk