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£13 billion online shopping bonanza forecast in run-up to Christmas

Experts are today predicting a total of £13 billion will be spent online in the run-up to Christmas, as the largest ever online spending spree weekend comes to a close. A mixture of numerous attractive discounts available, delivery direct to the buyer and the massive range of products on offer has seen more and more people take an interest in online shopping. Companies such as Amazon and eBay are reporting record sales and massive interest in their products at a time when the UK economy is suffering a sharp downturn.

Some are even expecting online sales to make up for the off-line shortfall which is so evident when looking at the state of the UK high street at the moment. Many companies without a reasonable online exposure could well miss out on substantial business which could place them under more financial pressure. It is expected that today will see £450 million spent online via credit cards with the credit card companies forecasting 2 million transactions today against 1.5 million over the corresponding period last year.

The online marketplace is becoming a more prominent element of the UK retail market as more and more consumers feel safer using their credit cards online due to increased security introduced over the last few years.

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