Online Sales to Hit Half Billion Pounds, Yet Fraud Down

New research from Deutsche Bank suggests the Monday 6 December will be the busiest day for online spending, yet fraud numbers have declined slightly on previous years.

According to research from the Interactive Media in Retail Group (IMRG), ‘Mega Monday' will pip ‘Super Sunday' with up to half a billion pounds spent online over the two days.

A poll from CyberMonday.co.uk and YouGov, suggests that 45 percent of online UK adults plan to shop online between 29 November and 6 December, with 27 percent to spend over £200 on Christmas gifts. A separate study from eDigitalResearch shows that 27% of Brits intend to do more online shopping this Christmas than last year.

David Smith, managing director, IMRG, says: "We estimate that £6.4 billion will be spent in December alone, with total online sales for November and December set to reach £12.4 billion. Consumers have looked to spread the costs of Christmas a bit more this year due to the economic climate, but December 6th is the day that our retailers expect sales activity to be at its highest."

Deutsche Bank confirmed that fraud on credit cards was down, in part due to fewer chargebacks after a cardholder complaint were caused by fraud attempts. The share of chargebacks on the grounds that the purchase was not authorised by the cardholder or that the card was not presented fell by seven percentage points.

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