Online sales grow despite credit crunch

Online shopping is steadily growing in the UK, despite the credit crunch, as consumers swap the high street for the web browser. A new survey shows that 17p out of every £1 spent in Britain is going to internet retail groups.

The IMRG Capgemini e-Retail Sales Index shows that British consumers spent over £26.5bn online in the first six months of 2008. That is a marked increase of 38% compared to the same period last year.

The survey also highlighted that online retailers haven't been hit as hard by the economic downturn which has negatively impacted traditional retailers. The IMRG predicts that online sales will continue to grow in 2008 due to the spiralling cost of petrol and the belief that online shopping is more environmentally friendly.

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