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Savvy shoppers surf web to save money
Tuesday 12th August 2008, by Daniel King
Online shopping sales increased to a historic high of £26.5 billion in the first six months of 2008 and they are expected to soar to £163 billion a year by 2020, new figures show.
According to a calculation by Scripps, online shopping will account for almost a fifth of all retail sales this year. This is predicted to increase to 44 per cent by 2020, topping the 50 per cent mark in 2026.
Already, UK consumers spend the equivalent of over three days a year shopping for good and services online.
The trend can apparently be attributed in part to the 36 per cent fall in the price of broadband and a 1,500 per cent rise in speeds since 2004.
Steve Weller, from Scripps, said: "The internet makes it easy to shop around at maybe 40 or 50 different stores in one go to make sure that we are getting the best deals."
A recent study by Capgemini concluded that widespread access to broadband and the rising cost of travelling to stores has resulted in a sharp rise in the number of people shopping online.
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