UK online retail to grow by 6% a year

03 March 2009

LONDON: Online retail and travel sales in the UK will grow by an annual average of 6% over the next six years, expanding in size from £37 billion ($53bn; €41bn) in 2009 to £56bn by 2014, largely at the expense of the high-street, according to Forrester Research.

Based on data from 4,100 consumers, as well as retailers, Forrester found that the average UK shopper spends £1,321 on the web each year, compared with an average of £840 a year in Europe.

The company also argues that the number of consumers shopping online will increase from 30 million this year to 37 million in 2014.

Among the advantages of the internet during a recession compared with the high-street, according to Forrester, is that "people shop online to find better prices and save on fuel."

While books, DVDs and travel have long been the cornerstones of the British online retail market, one particular area Forrester will predicts will grow over the next six years is fashion.

Data sourced from Financial Times; additional content by WARC staff