British bargain hunters are gearing up to spend an average of 20 per person online this Christmas, according to the Interactive Media In Retail Group (IMRG).
That average accounts for an estimated five million shoppers, who the industry body said would go online and spend 104 million during the festive break, while bricks and mortar retailers are left to lick their wounds, forced to close for the holidays.
This is in comparison to a total of 84 million spent online on Christmas Day 2007, as shoppers went online to snap up the bargains and spend vouchers given as Christmas presents.
Last year's spending was accompanied by a 44 per cent increase in traffic from Christmas Eve to Christmas Day 2007 and IMRG is expecting this trend is expected to continue this year as more and more shoppers turn to the internet for their shopping fix and take advantage of Christmas sales.
The year-on-year growth in sales value for December 2008 is expected to be more than 15 per cent in line with the strong sales performances seen across the online industry and in contrast to dwindling visitor numbers on the High Street in the wake of the credit crunch and the run up to Christmas.
Stuart Rowe, Play.com's chief operation officer and IMRG member, said: "What's different about this year is the huge growth we've seen in the week before Christmas as consumers have left their shopping to the last minute. If this continues we'll see significant growth on Christmas Day as people spend their Christmas money and gift vouchers."
And Robin Terrell, John Lewis Direct managing director said, for the first time ever, the department store's online arm will be starting its online clearance on Christmas Eve.
Robin Goad, research director at Hitwise UK, said that Christmas Day and Boxing Day are becoming more important for online retailers every year. "Last year, for the first time ever, Boxing Day was the busiest day for online retailers bar none," he added. "Given the current hunger for bargains, it seems likely that both days will be even busier this year."
Julia Hutton-Potts of eBay added: "We estimate that 1.7 billion will be spent on unwanted Christmas presents this year equivalent to 36 per person.
"Typically, 27 December sees the single biggest spike in consumer listings on eBay in the post-Christmas period."
