Online retailers are hoping today will be a 'Mega Monday' as experts say it will be the year's busiest online shopping day. The first Monday in December is usually the busiest for online sales. More than two million internet purchases are expected to take place today, with the hour between 1pm and 2pm the peak time for trading.
The commercial director of Visa Europe says buyers will turn to the web after failing to find what they wanted in the shops over the weekend. Steve Perry also predicted that savvy shoppers would look to the internet for a better deal on an item they had already viewed in store.
Martin Talbot, marketing director of online retailer Play.com, told Sky News said: "Last year was an historic high for us. But this year we are already breaking all the records.
"At peak periods today we expect to take over 800 orders per minute. By ten o'clock this morning our sales were up by seventy per cent on the same day last year." He added: "Now more than ever customers are looking for value and convenience. Because of the recession people are becoming more selective andmore demanding about what they want." "The average Brit is planning to spend £23 per gift, compared to £28 in 2007."
Figures from electronic retail industry body IMRG suggest that 77% of people plan to do at least half their shopping online - up from 56% last year.
They predict overall online spending in the run up to Christmas will top £13bn.
In other news, debit card usage is clearly rising.
In the four weeks from November 6 to December 3, the early part of the Christmas shopping season, total spending in the UK on Visa debit cards increased by 7%, with the number of transactions increasing to just over 206 million.
Visa debit card usage increased 29% for online purchases, compared with the same period in 2007, accounting for more than 15% of all Visa debit card spending.
Dr Perry said: "We expect the rise of online consumer shopping to continue. In the last week alone, online spending with a Visa debit card increased by 20% on the previous week, amounting to nearly £600 million.
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