UK online shopping to grow 70% by 2010
Another day, another survey and prediction about the continually rising popularity of online shopping.
This time it’s PayPal, who presumably hope they have a lot to gain from people buying online (maybe with their new credit card). They’re predicting that by 2010, annual spend online will be £39bn, with nearly twenty-five million of us lured away from real shops to the virtual malls.
We’ll be even more time-poor (and possibly lazy) because the biggest online spend by 2010 will be food and groceries, accounting for £6.24bn spend, up 235% on 2005. Most of the big supermarkets are already well up on the game, as testified by the number of delivery vans seen around town.
Next up will be clothes and footwear, up 160% to £2.27bn, and a continued growth in electrical goods, up 136% to £4.6bn.
PayPal have issued a warning to smaller businesses that it feels could miss out on this new buying behaviour – of course the solution is to sign up with PayPal…
