Online spending could increase, says survey

Research conducted by E-consultancy, Logan Tod and Immediate Future, 56 per cent of respondents said their online spending would not be affected, or may actually increase.

The survey also revealed that 64 per cent of respondents will reduce spending generally in the current deteriorating economic climate.

It shows that consumers are influenced by online shopping due to competitive prices and advice, including user reviews.

62 per cent of respondents said that they are now more likely to consult reviews written by other web shoppers before buying.

Katy Howell, managing director of social media specialist Immediate Future, said: 'The research clearly highlights the importance of online interaction between consumers when faced with purchasing decisions.

'Whether it is with blogs, price comparison sites, or user reviews, brands need to understand and engage with social media to survive the expected economic downturn.

When comparing the different age groups, it is the 'silver surfers' (aged 55 and over), many of whom have paid off mortgages or enjoy higher disposable income, are the least concerned about the economic situation (43 per cent said that the economy would not affect their spending).

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