Online retail group IMRG expects UK consumers to spend 17.4bn online this Christmas, up from the 15bn spent in 2009.
The company made its estimates ahead of ‘Mega Monday,' which takes place on December 6th. The day is typically the busiest online shopping day of the year, with Play.com expected to register 1,200 orders per minute during peak times. Overall, Play predicts its Christmas takings to be up 20 per cent year-on-year.
Despite the excitement, IMRG's chief executive James Roper warns that UK shoppers will be spending less this Christmas on the High Street than in previous years.
"Nervousness about the Government's spending cuts is likely to impact High Street spend this Christmas, with a third of people saying that they plan to spend less than they did last year,” he said.
Despite this, it is a far rosier picture for online retailers who are look set to do well this festive period. We predict UK consumers will spend 17.4 billion online in Q4, up from 15 billion in Q4 2009. 28 per cent of consumers say they plan to do more Christmas shopping online this year and 61 per cent plan to do 50 per cent or more of it online, according to the latest IMRG e-Customer Service Index.
The internet has cemented its position as the place to go for value, convenience and choice, and continues to develop as a major factor in consumer culture in spite of the economic climate."