Online shoppers blow £700k in a minute

 

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By Stuart Turton

Posted on 11 Dec 2007 at 11:58

Online shoppers spent £767,500 in a single minute yesterday, as the Christmas gift buying frenzy hit its peak.

According to figures released by Retail Decisions, a card processing firm, the record-breaking number was achieved at 1:09pm, as shoppers took advantage of their lunch breaks to purchase gifts online and avoid hitting the busy high streets.

In total, the group believes shoppers splashed out around £370m online yesterday, a 106% rise on the same day last year, making it Britain's biggest ever online shopping sweep.

Research from price comparision site, uSwitch, suggests that online spending in the UK is likely to hit £40 billion this year, rising to £162 billion by 2020, when it will account for 40% of all retail spending.

"Every year the second Monday of December is the biggest shopping day, people have had time to chat with their families about what they want, they know they have to order it to get it in time and they come into work and order it during their lunchtime," explains Internet Media Retail Group CEO, James Roper.