Online spending in December increased by 14%
News that online spending in the UK increased by 14% in December has not come as a surprise to many in the retail sector. Suspicions that many people have switched from the high street to the online shopping sector appear to have been borne out with a 25% increase in overall spending online in 2008.
A figure of £43.8 billion has been suggested as the total online expenditure throughout 2008 and while growth in the second half of the year slowed from 38% to 15% this is still a significant increase. Many experts are suggesting that 2008 has been a critical year for the online retail sector and one which has seen many companies come of age.
Security issues have for many years been at the forefront of online consumers minds although many of these concerns seem to have disappeared over the last few months. Many people are surprised at the ease with which they are able to find the best deals and have them delivered to their homes within a matter of days. Postal costs have also plummeted with many online sites offering free posting to certain areas of the country.
The online market is here to stay and experts are forecasting substantial growth in the years ahead.
Share this..
Related stories
Will Mervyn King win through at the end of the day?
Last week's revelation that Mervyn King, the Gov of the Bank of England, had demanded a £75 billion extension to the quantitative easing program as opposed to the figure of £50 billion which was agreed by the MPC has got many analysts and experts wondering what may happen next. Mervyn King has only been in the minority with regards to MPC votes on three occasions since 2003 and has a reputation...
Read MoreGordon Brown causes international row over banking tax
As we covered in one of our earlier posts, Gordon Brown has caused an international row over his demand for a banking tax on all international financial transactions. The move, which was mentioned some time ago, has effectively been blocked by the US government leaving Gordon Brown and the UK authorities high and dry and "out of the loop". This is a tax which has been discussed for decades and is...
Read MoreThe history of HM Treasury
The Treasury Department is by far and away the most influential department of the UK government and handles hundreds of billions of pounds of taxpayer's money on a regular basis. Officially the role of the Treasury is to execute and develop the British government's public finance and economic policy on an ongoing basis as well as collecting taxes from the UK population.
The Treasury...
Unemployment in UK set to soar
Yet more data from the office of National statistics has highlighted the ongoing fall in employment numbers and the number of people claiming benefits. The employment figures show that for the three months to October 2008 the rate was down 0.4 to 74.2% of the work age population of the UK which is a figure only beaten back in 2000 when the rate was 74.1%. The actual number of people in employment...
Read MoreUK workers reject money incentive
It seems money can't buy you happiness â€" at work, at least.The humble hairdresser has fought back to retake the crown of Britain's happiest worker after slipping to fourth last year.According to research carried out by vocational education experts City & Guilds, hairdressers enjoy their work more than those in more traditionally well-respected professions like law and teaching.Its annua...
Read More