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The global e-retailing body, Interactive Media in Retail Group (IMRG), forecasted that UK online spending in December would total £3.2bn, but IMRG now expects that it could be as high as £3.7bn, a 45% increase compared with December 2005.
IMRG initially estimated that the total spend for the ten-week period leading up to Christmas would be £7bn, but has revised that estimate upwards to £7.5bn. It seems that fears over internet security have not affected consumer confidence to go shopping online.
Interestingly, IMRG believe there are “huge gaps” in the marketplace, especially for luxury, high-end and specialist products.