Online shoppers 'to maintain careful spending'

11:28 27th January 2010

Companies in Lancashire that use online retail services need to ensure they are offering products and services at competitive prices, new research has suggested.

The study by PayPal has revealed that while the UK is now out of the recession, one in five online shoppers still intend to be careful with their finances and not increase their spending in the next few months.

It was also found that 54 per cent are hunting for bargains more due to the recent economic problems, while 17 per cent are looking for quality over quantity.

Mark Hudson, marketing director of PayPal UK, said shoppers have become "more considered in their purchases".

"Although we're now technically out of recession it's going to be some time before consumers start feeling better off and in the meantime we’re likely to remain savvy shoppers," he added.

Recent figures published by food industry body IGD found that consumers are set to spend £7 billion on groceries online by 2014, which would be double the amount recorded during 2009.

It also revealed that one in ten people expect to solely use such services within the next five to ten years.

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