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Record online Christmas shopping figures expected this year

UK credit card holders poised to spend big online this year, says Axa

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30 November 2011

Record online Christmas shopping figures expected this year”

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Britons are set to spend record amounts on online shopping this year, it has been claimed.

UK insurer Axa has published the results of a survey which surprisingly show that 58 per cent of UK consumers will not cut back on festive spending despite the current economic climate.

Londoners were the least likely to cut their festive spending, while those from the north-east were named as the most likely to make cutbacks this Christmas.

With many poised to spend big this year, analysts have forecasted that consumers will embrace online shopping to find the best deals and offset the 20 per cent VAT rate.

Nick Turner, Axa UK's director of customer partnerships, said: "I think we're going to see a lot more shopping around and possibly the highest ever online trade this year as consumers seek to stretch their pounds even further."

The study also revealed that 15 per cent of respondents could 'not survive' without a large overdraft or credit card.

Posted by Jack Ramsey

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