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Internet Spending at Christmas - [BACK] Internet spending is growing at a quite phenomenal rate, with an average growth rate of some 45% year on year. Online sales now account for 10% of the annual spending bill of £300 billion, but a healthy Christmas season will push the UK’s total web spend to £40 billion in 2007, with this set to rise to £162 billion by 2020. This Christmas, British consumers are set to spend £200 million a day online, with the strongest sectors being groceries and clothing. However, despite over 60% of the British population having a broadband internet connection at home, consumers still favour the high street overall. It is apparent that many are concerned about fraud, and eager to handle goods before they actually purchase them. It’s also clear that many older traditional shoppers do not use the internet for purchases at all, and they have some of the biggest spending power. The internet can often have huge discounts, and it’s actually just as safe shopping online as it is on the high street. There are a number of ways to save, from getting a bargain on Ebay to finding an excellent payment plan with a catalogue. Traditional catalogue companies like Littlewoods, for instance, have offered discounts for people who sign up to an account, and then allow you to pay off purchases over lengthy periods without interest. Perhaps one of the best ways to save big is to take advantage of the cheap US dollar. While a lot of American companies do not send goods overseas, it is still possible to obtain them by setting up a US postal address. Companies such as Access USA allow you to create an address for around £30, then you pay a monthly subscription to maintain the address; all merchandise can then be forwarded to you overseas. If you want to buy in bulk from US catalogues or online stores, this is an excellent way to save a lot – just make sure you get the right sizes, because sending things back, although possible, can be very expensive. See a huge site like Zappos and compare to UK prices; you’ll probably be able to cover the cost of postage through just one purchase, not to mention the huge selection of goods online! One thing you will need for internet shopping is plastic. While some sites do offer you the opportunity to pay by cheque, the fastest way to buy is on paypal, or credit or debit card. For international orders you will need an internationally recognised card, such as Mastercard or Visa, but for orders from UK sites you can use Maestro. If you’re looking for some Christmas credit then ASDA Finance is offering 0% credit cards with 0% interest on purchases for 3 months and 0% on balance transfers for 9 months. ASDA Finance also offers cheap personal loans if you are looking to raise cash this winter. [BACK] |