UK internet shopping reached a new all time high in October, according to new research from the Interactive Media In Retail Group (IMRG).
The IMRG says that sales for October were estimated to be worth £2.73 billion, with e-retail growing at its fastest ever rate in 2006, increasing by an average of £50 per month during the first ten months of the year.
During the same period two years ago, in 2004, the IMRG says that the average growth rate was just £16 million per month.
The IMRG, which includes large retailers such as John Lewis, Argos, Comet, Tesco and Ikea, says that its earlier estimate of £7 billion worth of sales in the 10 week run-up to Christmas (see Online Christmas Spending To Reach £7 Billion) remains unchanged.
Zak Edwards, founder of Prezzybox.com, said: “Because the e-retail sector is still so young, comparatively, and is therefore in such a period of immense growth, it is always difficult to determine whether business is brisk.
“Based on the previous October’s sales, our figures are approximately 26% up. This was a little lower than forecast, but is still pleasing in a climate where many are bemoaning how quiet things are.”
A recent report from Verdict Research said that online retailers are set for another record Christmas, predicting that the value of goods bought online in the fourth quarter will rise by 35% to reach £3.4 billion or 4.5% of all Christmas spending (see Online Purchases To Grow By 35% In Q4).
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