Online Market to Triple by 2011

A survey by Verdict Research Group reports that the spending by consumers online rose by 33% in 2006 and will reach a staggering £28 billion by 2011, which will account for nearly 9% of the UK's total retail sales.

Interestingly, it seems that this growth is to be created by exisiting customers, rather than by more switching to internet shopping.

"Even with some retailers staying out of the market, online sales in the UK are set to triple in value," Verdict said.

"By 2011, the typical spend of an online shopper will grow to £1,056 per year with the clothing and footwear, DIY and gardening, and food and grocery sectors achieving the fastest growth.”

What is perhaps more interesting, is that the Verdict survey focused only on the sale of goods. If you look at the total amount of money spent online in the UK in 2006 the figures get much higher, IMRG for example has calculated that some £30billion was spent online by UK shoppers and that "etailing" will reach £78billion by 2010.

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