Online sales could help the UK's retail insurance holders to recover from the recession, it has been claimed.
According to the PayPal UK Online Retail Report, spending over the internet is expected to grow by £12.3 billion to reach £21.3 billion by the end of 2011.
In addition, shoppers are tipped to spend at least £1 out of £14 with online retail insurance customers by 2012.
The findings contrast with predictions for high street retail insurance holders, which suggest sales could fall by up to £8.3 billion.
Carl Scheible, managing director of PayPal UK, commented: "[Online retail's] phenomenal growth is not only forecast to deliver sales of as much as £21.3 billion by 2011, but a £12.3 billion increase will also ensure that the entire UK retail sector is growing again by the end of 2011."
He also noted that many high street retail insurance holders have experienced sales growth in the own online operations over the economic downturn.
Recently, eBay spokesperson Vanessa Canzini suggested that online retailers are coping with the recession without support from banks or the government.
