VAT cuts failed to drive bigger sales values and traffic volumes for online retailers on Monday, according to industry body IMRG.
IMRG said that although Monday saw the UK's largest ever online shopping volumes, sales values and traffic volumes were flat.
IMRG chief executive James Roper said: "Monday is almost always the biggest shopping day of the week, and Mondays in December are usually huge. It was widely assumed that [Monday's] fall in VAT, from 17.5% to 15%, would create a considerable shopping surge, due to pent up demand caused by shoppers waiting for the lower rate. But it just didn't happen. Many of the smart e-retailers had already passed on the lower rate as soon as it was announced."
Jon Prideaux, deputy chief executive of payments service provider SecureTrading, added: "[Monday] was the largest day for UK e-commerce ever in terms of transactions, but value was flat. Transaction volumes were 3% higher than the 2007 record but value is almost exactly the same as last year. The size of the general Christmas peak is smaller: normally it’s 85% above an average day, this year it’s only 68%."