The amount of money spent by Britons online was down in the first month of this year from December 2009.

Although the decline was anticipated the fall of 22 per cent was greater than the typical seasonal fall from previous years.

Nevertheless, £4.3 billion exchanged hands between consumers and online retailers in January.

The research, compiled by the IMRG Capgemini e-Retail Sales Index, suggests that the fall was as little as 5 per cent on the same month last year.

The decline comes after a very successful December, and it is thought that special offers and the anticipation of the reinstatement of regular VAT have contributed to the seasonal rush, as well as savvy retailers making good stock estimates.