DIYWEEK.net

New figures reveal convenience is key rather than price in encouraging consumers to splash their cash on the web.
New research commissioned by online bank Ivobank, revealed that 25.17m people - 81% of online users in the UK - purchase products on the web because it means they are free to shop whenever they want.

29.09m people said that they plan to buy at least one Christmas present online, with more than a quarter of respondents stating that they plan to buy 11 or more gifts via the web.

Director of commercial development at Ivobank, Martin Peterlechner said: "Convenience coming in ahead of lower prices is an interesting find."

He added: "Offering reductions or low-cost products on your site are all well and good, but if people cannot access the required products...when it's convenient for them, the retailer won't be able to take advantage of the festive retail rush."

While customers are said to be planning to cut back their spending over the next twelve months, gardening, books and DIY are least likely to be affected, according to a study by Pitney Bowes MapInfo.

The research also revealed that, although 63% of UK adults plan to increase their online spending in 2009, just over half of respondents said they would always favour a local store over a retail site if it was conveniently located.

Deloitte has predicted that Britons will spend an impressive £4.7bn online during the festive season - 10% up on last year. This could potentially put more pressure on the high street, with 81% of retailers now offering transactional websites to try and maximise sales. However, Deloitte's research revealed that for 56% of retailers, online sales account for less than 10% of their total.