Internet shopping clicked up its second £1 billion month in January, the IMRG e-Retail Sales Index reveals, while mainstream retailing slumped 44%, from £29.2 billion in December to just £16.5 billion in January, according to the Office for National Statistics.
Online shopping grew 19 times faster than bricks-and-mortar retailing in December, and increased a further 5% in January to represent 6% of all UK retail, according to the IMRG Index, which is sponsored by BT.
"Canny shoppers found bargains galore online, and waited for the January Sales to make many purchases, thereby applying intense pressure on retail margins," commented IMRG's managing director, Jo Tucker.
The new IMRG Index data provides evidence that the growth rate of online shopping is still continuing to accelerate: this January's e-retail sales, worth £999.85 million, were up by well over 5% on December, whereas in January the year before, they fell 17.3% below the Christmas month; the annual increase in the value of internet shopping almost doubled, from just over 70% last year (Jan. 2001 - Jan. 2002) to almost 130% this year (Jan. 2002 - Jan. 2003)
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