Kaching! Internet Shopping jumps 50 percent in 2007

2007 has been the year when Internet Shopping became mainstream in the UK.

A survey by Capgemeni and The Interactive Media in Retail Group (IMRG) showed that nearly one pound in every six pounds spent in the retail sector by UK customers goes to online retailers; up from one in every ten pounds in 2006.

That amounted to GBP 46.6bn at the end of 2007, a massive jump of more than 50 percent over 2006.

The fastest growing sector has been that of electrical goods such as iPods and computer game consoles.

Figures showed that four million people, each spending on average GBP 24, went shopping online on Christmas day in a bid to make the best out of early Sales.

More than 23 million people bought Christmas presents online in 2007, a 35 percent surge compared to 2006.

These figures are bound to increase as only half of UK homes have broadband and more than one third of UK consumers do not buy products and services online yet.

Online sales have been credited for helping high street stores and supermarkets make the best of Christmas, often hiding important drops in brick and mortar stores.

For example, Marks and Spencer's online arm recorded an increase of 78 percent for the quarter ending on the 29th of December, while overall revenue for the group fell like 2.2 percent.