A report by market research specialists Verdict Retail claims that consumers are expected to spend £88.4b in Q4 of 2013, representing a £1.95b increase on last year's figures. 13.2%, or £11.6b of this spend will be accounted for online.
The report states that this year will produce the strongest growth since pre-recession 2007, estimated at 2.2%.
Online shopping is set to become even more popular due to convenience, with a 12% increase in online spend predicted.
In addition, the strongest growth across all major sectors since pre-recession is expected, with the recovery of the housing market driving consumer confidence and boosting home-related sectors.