Figures from the Interactive Media in Retail Group (IMRG) and Capgemini show that around £13.16billion to be spent online in the final quarter of 2008 and it would be 15 percent higher than the same period last year.

Though it may be a major rise, it would indicate a slow-down on online shopping growth.

It is expected that 8 December (a Monday) is going to be the UK’s most zealous shopping day when an estimated £320million to be spent online.

Almost 42 percent of the shopping will be made outside of usual shopping hours, before shops opening in the morning or after 6pm.

However, the peak shopping hour will be between 1pm and 2pm on 8 December when around £28million to be spent for online shopping.

IMRG Chief Executive James Roper says: “Britons will hammer the credit crunch with Internet prices on this Xmas, as they will spend around a billion pounds each week in the run-up.”

“The internet will serve as the most powerful weapons against tough times. There is enormous pressure on retailers and suppliers to price competitively this year, and we can expect a lot of volatility out there and fantastic bargains as well.”