Brits to spend £13bn online this Christmas header image

Christmas 2014 will see Britons spend more online than ever before, according to a new forecast.

Sage Pay has predicted more than £13 billion will spent on the web during the holiday period, representing an 18 per cent increase on the £11 billion recorded last year.

Many people are thought to already be making festive purchases, with 2.7 billion eBay searches using the word 'Christmas' expected to have been carried out last month, the organisation said.

However, Simon Black, chief executive of Sage Pay, warned most of the UK's small and medium-sized business could be set to miss out on this online spending boom, as only ten per cent of these firms currently have an e-commerce offering.

"With record online spending predicted for Christmas 2014, it’s never been more important for small businesses to be online," he stated.

Mr Black said most large retailers are already preparing themselves for the festive period and advised smaller firms to do the same.