Consumers spent £250bn shopping online over the last 10 years and the market is set to double in the next decade.
The figure was calculated to mark the tenth anniversary of the IMRG-Capgemini e-Retail Sales Index, which recorded sales of £1.8bn in 2001, when it was launched. This year online sales are expected to total £56bn and to reach £123bn by 2020.
Capgemini retail consulting and technology vice-president Chris Webster said: “The change in shopping habits over the last decade has been phenomenal. The challenge for the next 10 years will be for e-retailers to increase their share of the market even further and come up with new ways to extend brand loyalty.”
IMRG-Capgemini said mobile ecommerce will be the fastest growth area in the next decade as improvements in browsers, handsets and data packages continue to make the technology more popular.