Santa's new helper; the internet

by Money Doctor Thursday 25 October, 2007

Shopping is a huge addiction for us Brits and clearly we overdose when it comes to Christmas!

It is expected that we will spend a record-breaking £14 billion on our shopping online this festive season, making us Europe's most internet-obsessed consumers.

Oh well, at least we come first in something...

According to research house Forrester, internet shoppers across Western Europe will spend £35 billion this Christmas and the UK has the largest online retail market with more than 27 million of us expected to buy over the internet over Christmas.

"The significant growth in online retail is due in part to increasing consumer confidence and familiarity with the web," according to Forrester analyst Victoria Bracewell Lewis.

Further evidence of why many of us shop over the internet is because it gives us the ease of price comparison, helps us avoid crowds, we get price competitiveness and more choice.

Another good reason is that we can get substantial savings there, compared to the high street stores.

The Which? researchers compared prices on 72 products at over 100 retailers and found that online savings ranged from 11% on digital camcorders to 29% on LCD and plasma televisions.

They found you could save more than £1,000 on a shopping list of five popular gifts: a flat-screen television, camera, camcorder, hi-fi and DVD recorder.

Savings could also be made on everything from books (14%) and MP3/MP4 players (11 %) to CDs (7%) and champagne (2%).

But popular games consoles like the Wii, Xbox 360 and PS3 were found to be similarly priced.

"The trick to bagging a bargain is to discover which stores offer the most extras," Which? said.

"For example, while John Lewis sells the PS3 for £398, HMV sells it for £425, but with four games (which cost up to £50 each) and an extra controller; which is the best deal we found."

The amount of savings we can make online is huge according to the Office of Fair Trading who say that consumers could be missing out on savings of up to £240 million a year by not shopping online.

So, it seems that there are many bargains to be found online but is the internet for everyone?

When it comes to the festive season, are you going to be an online shopper or a high street shopper?

Why not let us know in the comments?

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Davidyin says:

Friday 26 October, 2007 / 20:10

Shop online and keep safe for your credit.

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Thursday 20 November, 2008 / 20:42


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