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Brits splash out extra £1bn online in January spending spree

14 Feb 2013
Woman shopping on smartphone

The UK online retail market has enjoyed a massive £1bn year-on-year increase, according to the IMRG-Capgemini e-Retail Sales Index.

IMRG reported that UK online spending increased to £6.9bn in January 2013, marking a near-£1bn increase on the figure recorded in January 2012.

The figure marks a 16 percent year-on-year growth in the British online market. The increase in spending follows a 27 percent dip in December.

Meanwhile, IMRG reported a 193 percent increase in the number of retail sales occurring through mobile devices like smartphones and tablets.

Despite the rise, mobile transaction growth is showing signs of slowing. In December 2012, mobile sales had risen 207 percent on the previous year.

"The growth of mobile sales may be showing signs of slowing, but it is coming from a very high base and 193 percent is still very strong," commented IMRG chief information officer, Tina Spooner.

"What is apparent is that consumers are becoming more confident in purchasing through mobile devices, as the experience on mobile sites improves.

"The conversion rate has doubled in the space of a year, rising from 1.3 percent in January 2012 to 2.6 percent in January 2013."

IMRG and Capgemini said the strong start to the year means the online retail market will likely grow a further 12 percent in 2013.

The growth in online spending comes amid concerns for the future of traditional British high-street stores.

In recent weeks a number of household names, like HMV, have gone into administration.

The IMRG has in the past claimed the stores are themselves to blame for their demise having failed to recognise the shift to online spending for digital content.

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Alastair Stevenson

Alastair has worked as a reporter covering security and mobile issues at V3 since March 2012. Before entering the field of journalism Alastair had worked in numerous industries as both a freelance copy writer and artist.

View Alastair's Google+ profile

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