Online purchasing is expected to top an amazing £30 billion this year with online young driver car insurance companies, supermarkets and travel agencies alike all pulling in substantial sales.
New research by The Times has revealed that internet shopping now accounts for 10% of all retail sales in the UK.
It seems that the majority of people in Britain now opt to buy their car insurance online as it is cheaper than buying from a high street provider. 50% choose online car insurance companies, 45% buy their motor insurance over the phone and the remaining 5% search for the best deals online then purchase their premium over the phone.
Interactive Media In Retail Group (IMRG) suggest that this rise in internet shopping is a result of the escalating popularity and affordability of home broadband connections and an increase in familiarity and confidence among British people when using the internet.
The predicted £30 million spent online this year will show a dramatic 56% increase on the £19.2 billion spent last year and looks promising for online retailers and young driver car insurance companies.
The research found that the most visited online retailers were book/multimedia store, Amazon and computer manufacturer, Dell. Tesco and Argos also featured among the favourites. Online travel retailers represented the highest proportion of sales by sector with Expedia and EasyJet coming top.
A representative from Hoot Car Insurance Services comments: 'The increase of retail sales online signals that online car insurance companies such as Hoot will continue to do very well.
'We specialise in young driver car insurance and offer the best car insurance rates available to our customers. As people become more accustomed to searching for good deals online and more confident with making online purchases, our services will become more accessible.'