Online shoppers in the UK are expected to spend £162 billion ($336 billion) per year on products via the internet by 2020.
And by the end of this year alone, ecommerce sales to British buyers will total £40 billion ($82 billion), according to the price comparison site uSwitch.com.
Online sales currently represent 16 per cent of overall retail spending, the consumer site estimates, up from just two per cent in 2002. In 13 years time, ecommerce is expected to account for as much as 40 per cent of consumer sales.
Statistics from the Center for Economics and Business Research justify these forecasts, as British consumers can save as much as £13 billion ($27 billion) by shopping online, with annual savings of up to £500 ($1,000) per household possible by comparing internet prices.
uSwitch.com calculates that as many as 13.5 million Brits, nearly a quarter of the population, use the internet each year to purchase products, silicon.com reports.
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