Online card spend reaches 20% in UK
Online shopping now accounts for 20 per cent of all credit and debit card spending in the UK, revealed new figures from Barclaycard.
The growth in online card spend is in line with the 11 per cent increase in annual online spending, showing that e-commerce is a huge sector for retailers.
These figures are supported by research by IMRG, which shows that UK online spending is expected to reach £107 billion by the end of this year.
The average spend by UK households online will reach around £4,000 by the end of 2014.
Chris Wood, Barclaycard managing director, said: “Online shopping has come a long way since it first emerged in 1984 and now accounts for one in every five pounds spent on credit and debit cards in the UK.
"More and more of us are turning to the web to research, compare prices and buy everything from cinema trips and electronics to the latest fashions, making it an inextricable part of modern retail."