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Online sales helped by the credit crunch

March 29, 2008 by admin  
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As the effects of the credit crunch take hold consumers are increasingly looking to the internet for bargains, one financial expert has said.

Shopsafe.co.uk said that the current trend for consumer bargain hunting was related to the tightening of purse strings brought on by the effects of the credit crunch.

Simon Crisp, director of Shopsafe.co.uk, stated that the future of online shopping was viewed to be strong with fashion and household goods being the main sectors benefiting from the increase in online spending.

“This year certainly people are looking for bargains online; they’re looking to squeeze every penny out of their budget,” he continued.

In a report from the IMRG Capgemini e-retail sales index, online sales in February were up 46 per cent on the same point last year to a record high of £4.2 billion.

Meanwhile, Marks and Spencer announced in November 2007 that their re-branded M & S Direct site has seen online sales increase by 60 per cent.

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