UK Xmas Web shopping To Hit ú5bn
Christmas shopping on the Internet is set to reach new highs this year in the UK, two reports say.
According to UK payments association APACS, online shopping will exceed ú5 billion (US$10.29 billion) in December 2007. Credit reference agency Experian says that UK consumer spending this Christmas is likely to hit a new record, despite the consumer spending squeeze and growing worries over the economy. But shoppers will switch their Christmas spending away from the high street in favor of online purchases, Experian says. Hitwise, Experian's Web-tracking subsidiary, recorded a 22.4 percent jump in online visits to UK shopping and classified Websites during November 2007. APACS says the number of UK adults shopping online has more than doubled in the last five years to almost 30 million. It forecasts that UK spending on credit and debit cards at online retailers will rise by 55.6 percent from ú3.6 billion in December 2006 to ú5.6 billion this December. To help online shoppers stay free from fraud, APACS has launched www.shopsafeonline.org.uk. The new site contains details on how to sign up for the Verified by Visa and MasterCard SecureCode online card authentication systems. Related Links
www.apacs.org.uk
www.experian.co.uk
Experian's Global Press Office
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