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BizReport : Ecommerce archives : February 24, 2010

Brits spend 65% more online this Valentine's Day

Despite the recession and a more conservative approach to spending, the British still found the funds to demonstrate their love to their nearest and dearest, according to new data from Coremetrics.

by Helen Leggatt

coremetrics.gifOnline retailers should also be feeling the love if this year's Valentine's Day spending is anything to go by. The average online spend in the run up to the big day was 65% higher than last year, found Coremetrics.

"It has been an undeniably tough 18 months for the retail sector across the globe," says Coremetrics' Richard Sheppard, via InternetRetailer. "However, today's results should bring renewed confidence to the retail sector. Consumers are looking to spend again, meaning competition to attract new clients is hotting up."

The analysis of 131 of Coremetrics' U.K. clients, including online retailers such as Net-a-Porter and Figleaves, during the period from 1 February through to 14 February, found that the average online order was $232 compared to last year's average of $140.

"Retailers need to take heed of today's' results and, moving forward, ensure they are targeting their audiences with the most innovative techniques that will drive traffic to their sites and ensure competitive edge of their respective rivals," concluded Sheppard.

Tags: e-commerce, online retail, online spending, U.K., Valentine's Day

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