Online spending hits £100 billionMassive growth in web transactions

18 May 2007

 

Using a credit card online

You may be asked for the three-digit security number, but never your PIN

Total online spending by British shoppers has now hit £100 billion, new research shows.

This figure dates back to April 1995 when e-retail first launched, according to the Interactive Media in Retail Group (IMRG) - the industry body which represents e-retailers.

Britons spent £3.465 billion online last month - up 55 per cent year-on-year.

IMRG Managing Director Jo Evans described the £100 billion total online spend as an ‘astonishing landmark’.

She added: ‘It's been obvious for a couple of decades that a secure, networked consumer marketplace would arrive and be popular, but actually witnessing its profound success and meteoric growth still takes my breath away.’

‘April's online sales were worth about the same in one month as London's West End takes in a year.’

Internet shopping

John Lewis reported 44.9 per cent growth in online sales for this year so far compared with the same period in 2006.

David Walmsley, Head of Web Selling for John Lewis Direct, said: ‘We’ve seen very good growth through the first quarter of the year, driven by John Lewis’ excellent home ranges.

‘However there have been tougher conditions around some technology categories such as televisions, where the growth bubble from last year is now flattening out.’

The UK's first secure online shopping transaction was a book bought from WHSmith in April 1995, according to the IMRG.