Newsletter 50

Despite mixed reports on the volumes of shopping being undertaken on the high street this Christmas, it looks as though the online sector is already breaking records.

According to Retail Decisions, a specialist in card fraud prevention, payment processing and card issuing, 7 December saw the busiest hour’s online shopping on record (£33 million changed hands), and 1.43 pm was the busiest online shopping minute ever (£1.4 million).

Online retail association IMRG says that if consumers continue to spend at this rate, the December figure will exceed its December forecast of £5 billion.

According to a survey prepare for fulfilment house GSI Commerce by Maximiles, quarter of consumers are willing to spend more than £10,00 on a product online this year, compared with just 12 per cent in 2008. Moreover, fewer consumers say they will limit their online spending to £250 per item (only 32 per cent in 2009, compared with 48 per cent last year).