The research found that a pattern is emerging in the UK and across Europe for online retail spend as each quarter, year-on-year, online spend is approximately doubling.
Total UK sales for the first quarter of 2004 were more than twice that of the same period in 2003 - a rise of 123 per cent. UK Visa cardholders spent more than £2.4 billion online in that time.
A big winner has been the retail industry, particularly in the area of food and drink, in which sales have more than trebled. This growth has been helped by a massive rise in people ordering their groceries from supermarkets over the web. The popularity of buying books and music is still strong, with an increase of 116 per cent.
The amount spent on domestic services has more than trebled in the past year - the public has spent almost five times as much on insurance and four times as much on utility bills and taxes. Travel and tourism remains a strong growth area online, with annual expenditure up by 159 per cent on the first quarter of 2003.
All the big European markets experienced healthy e-commerce growth year-on-year. Spain showed the biggest growth (166 per cent), while Italy (144 per cent) and France (140 per cent) have also more than doubled their internet spend. Germany, already a huge online shopping market, had 83 per cent growth for the year.
Bernard Ovink, VP of Visa EU, said: "These are the healthiest post-Christmas online sales figures for years. Across Europe, and across sectors, growth is very healthy. More and more people are beginning to shop online and loyalty to online brands is increasing. These retailers are becoming smarter at gaining individuals' share of wallet and making it easier for the consumer to buy."
The figures come as Visa launches a system for increasing the security of payments online. Verified by Visa is its newest online authentication system and uses password protection to help guarantee a cardholder's identity. It hopes to cut the number of disputed online transactions by up to 80 per cent.
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