Online stores ‘pricing out’ high street retailers
Shoppers turning to online shopping ths Christmas
More and more consumers are turning to the internet instead of the high street for their Christmas shopping, according to a new report.
The report, by electronic payment firm CyberSource Ltd, shows that as high street retailers feel the pinch of disappearing footfall, consumers are staying at home to take advantage of cheaper online goods.
According to a recent government study, conducted by UK online centres, consumers could save up to two thirds off their Christmas shopping by purchasing presents over the internet.
The survey priced ten items at £1,128 when purchased on the high street, compared to just £761 online.
Nathan Jackson, managing director at CyberSource, said: “Retailers who boast an online sales channel have a significant advantage over those relying solely on high street stores.”
In terms of online security, the report shows that retailers are on the right track. 100 per cent of online retailers polled by CyberSource use some form of fraud protection system, with manual review proving most popular with 73 per cent of businesses.
Jackson said, “It is essential that retailers provide consumers with a safe and secure shopping environment in order to retain this proposed increase in revenues and to ensure that consumers log out of the festive season smiling and free from fraud, with a new years resolution to revisit the website time and time again.”