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econsultancy_xml

It reckons the rise will be fuelled by a 71% increase in the number of UK internet shoppers to 24.9 million – 49% of the UK adult population. Carl Olav Scheible, head of merchant services at PayPal, said: "Over the past few years, we've seen the internet gradually eating away at the high street. "Consumer interest in broadband has been a key driver for the emergence of 'convenience home shopping' with 10 million UK households now signed up." Paypal says that by 2010, the internet will generate an extra £3.2 billion pounds in overall consumer spending. It says the sectors that will benefit most will be food and groceries, DIY and clothing. DIY firms are expected to reap £1.2 billion, up 172% on last year, and clothing and footwear £2.27 billion, a 160% rise. The online market for electrical goods, meanwhile, is expected to be worth £4.6 billion. The figures follow various other bullish projections to have come out recently about online spending in the UK. The <a href="http://www.imrg.org/">Interactive Media in Retail Group (IMRG)</a>, for example, said recently that British shoppers spent <a href="http://www.imrg.org/ItemDetail.aspx?clg=InfoItems&cid=pr&pid=pr_Index_press_release_270706&language=en-GB">£13.5 billion online</a> during the first half of 2006. It predicts the e-retail market will grow 36% to £26 billion this year. Also, while Paypal reckons 49% of the UK population will be shopping online in 2010, the <a href="http://www.apacs.org.uk/media_centre/press/06_31_07.html">Association for Payment Clearing Services (Apacs)</a> says more people already do so. It says 25 million Brits made a purchase over the internet last year, up 11% on 2004. Earlier this year <a href="http://business.timesonline.co.uk/article/0,,9075-1999957,00.html">E-consultancy told The Times that the total current market for online spending may have already surpassed £30bn</a>, though we factored in all spending, including travel, financial services and gambling, which could already be worth as much as £5bn (<a href="http://en.wikipedia.org/wiki/Betfair">Betfair alone processes £2.5bn in bets a year</a>).

<FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph>It reckons the rise will be fuelled by a 71% increase in the number of UK internet shoppers to 24.9 million – 49% of the UK adult population. </Paragraph> <Paragraph>Carl Olav Scheible, head of merchant services at PayPal, said: "<Quote>Over the past few years, we've seen the internet gradually eating away at the high street.</Quote></Paragraph> <Paragraph>"<Quote>Consumer interest in broadband has been a key driver for the emergence of 'convenience home shopping' with 10 million UK households now signed up</Quote>." </Paragraph> <Paragraph>Paypal says that by 2010, the internet will generate an extra £3.2 billion pounds in overall consumer spending. </Paragraph> <Paragraph>It says the sectors that will benefit most will be food and groceries, DIY and clothing. </Paragraph> <Paragraph>DIY firms are expected to reap £1.2 billion, up 172% on last year, and clothing and footwear £2.27 billion, a 160% rise.<LineBreak /> <LineBreak />The online market for electrical goods, meanwhile, is expected to be worth £4.6 billion. </Paragraph> <Paragraph>The figures follow various other bullish projections to have come out recently about online spending in the UK. </Paragraph> <Paragraph>The <Link URL="http://www.imrg.org/" Window="New">Interactive Media in Retail Group (IMRG)</Link>, for example, said recently that British shoppers spent <Link URL="http://www.imrg.org/ItemDetail.aspx?clg=InfoItems&cid=pr&pid=pr_Index_press_release_270706&language=en-GB" Window="New">£13.5 billion online</Link> during the first half of 2006. It predicts the e-retail market will grow 36% to £26 billion this year. </Paragraph> <Paragraph>Also, while Paypal reckons 49% of the UK population will be shopping online in 2010, the <Link URL="http://www.apacs.org.uk/media_centre/press/06_31_07.html" Window="New">Association for Payment Clearing Services (Apacs)</Link> says more people already do so. It says 25 million Brits made a purchase over the internet last year, up 11% on 2004.</Paragraph> <Paragraph>Earlier this year <Link URL="http://business.timesonline.co.uk/article/0,,9075-1999957,00.html" Window="New">E-consultancy told The Times that the total current market for online spending may have already surpassed £30bn</Link>, though we factored in <Emphasis>all spending</Emphasis>, including <Emphasis>travel</Emphasis>, <Emphasis>financial services</Emphasis> and <Emphasis>gambling</Emphasis>, which could already be worth as much as £5bn (<Quote><Link URL="http://en.wikipedia.org/wiki/Betfair" Window="New">Betfair alone processes £2.5bn in bets a year</Link></Quote>).</Paragraph> </FormattedContent>

2006-08-21T10:13:00+01:00

econsultancy_xml

UK web shoppers will spend £6.25 billion on groceries a year by 2010, an increase of 235% over last year, according to a study by <a href="http://www.paypal.co.uk">Paypal</a>. Research by the payment firm suggests British online spending will double to £39 billion, with the grocery sector taking the lion’s share of the market.

<FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph> <Emphasis>UK web shoppers will spend £6.25 billion on groceries a year by 2010, an increase of 235% over last year, according to a study by <Link URL="http://www.paypal.co.uk" Window="New">Paypal</Link>.</Emphasis> </Paragraph> <Paragraph>Research by the payment firm suggests British online spending will double to £39 billion, with the grocery sector taking the lion’s share of the market.</Paragraph> </FormattedContent>

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Related Econsultancy reports include our <a href="http://econsultancy.com/reports/e-commerce-platforms-buyer-s-guide-2009">E-commerce Platforms Buyer's Guide</a>, <a href="http://econsultancy.com/reports/delivering-successful-e-commerce-projects">Delivering Successful E-commerce Projects</a> and <a href="http://econsultancy.com/reports/online-retail-2007-checkout-special">Online Retail Checkout Special</a>. See also the <a href="http://econsultancy.com/reports/e-commerce-statistics">E-commerce Statistics Compendium</a>.

361569

UK online spending to double by 2010 false

2006-08-21T11:54:00+01:00

uk-online-spending-to-double-by-2010

2009-04-30T03:02:21+01:00

2009-10-13T08:34:12+01:00

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