24 June 2009
UK consumers are likely to spend around £430 each online as internet shopping looks set to more than double by 2011, figures have shown.
According to PayPal, the amount spent online could increase from £8.9 billion to as much as £21.3 billion in two years' time, marking growth of 137%.
"As we all try to make our budgets work harder during the recession it is hardly surprising many of us have headed online to seek a better deal," said Carl Scheible, Managing Director of PayPal UK.
He added that one in every £14 will be spent on the internet by 2011, with nearly nine million people already making purchases online at least once a week.
Also this week, PayPal told the country's online retail sector that it could help the country get out of the recession.