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We can save £13 Billion a year online…

February 16th, 2007 by Lloyd Gofton

Earn Money: Refer Friends and others for phones

Well a uSwitch report, out today, says we can.

The report confirms consumers could save as much as £13bn a year by shopping online – £500 for every household in the country.

It also predicts online shopping will quadruple by 2020, accounting for almost 40%, or £162bn, of all UK retail sales, in comparison to just 2% in 2002.

The high street will be a very different place in 2020 at this rate and it’s sectors such as music, books and electrical goods that are already feeling it.

Internet sales will reach £40bn this year, accounting for 15% of overall retail sales. The average household spends £980 a year on online goods and services, representing 10% of the £9,630 total annual shopping bill.

The report was conducted with the Centre for Economics and Business Research and market research firm YouGov.

Reuters has the full story,here.

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