Online retail spending is set to pass £15bn in the last quarter of the year, according to stats from the IMRG.

The group says that higher interest rates and the credit crunch have slowed e-commerce growth slightly, but online shopping is still growing twenty times faster than offline.

The £15bn figure would be a 60% increase on the same period in 2006, while the IMRG has predicted that the UK’s shoppers will spend £42bn online this year.

Meanwhile, the British Retail Consortium and Nielsen are predicting that sales of Christmas related goods will reach £12bn in the UK this year, a 5% increase on last Christmas.

According to the BRC figures, the average person will spend £435 on Christmas gifts, 12% more than last year. Clothes, books, films and music are predicted to be the biggest sellers.

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