The amount of money spent online in the UK will reach £21.3 billion by 2011, according to new predictions.

Britain's online retail sector is set to grow by 137 per cent in the next two years, it has been forecast.

According to predictions in PayPal's UK Online Retail Report, online shopping is set to rise from £8.9 billion to £21.3 billion by the end of 2011, which may also increase the number of parcel deliveries made.

It was also revealed that 62 per cent of online shoppers believe the best deals are only available via the web, while 47 per cent claim their money goes further when spent through the internet.

Carl Schieble, managing director of PayPal UK, said: "Almost nine million of us now shop online at least once a week.

"Online shops have already seen phenomenal growth and by the end of 2011, when the recession is expected to be over, we'll be spending at least one in every 14 pounds online."

Mark Pearson, managing director of MyVoucherCodes, recently claimed many online retailers are offering discounts in order to attract the attention of consumers.


Article Added: 24/06/2009 14:33:12