Andrew McClland, director of business development for IMRG, says small online businesses are in a unique position to move quickly and meet market demands, compared with larger companies.

He adds: ‘The internet gives consumers more choice for deals and spending, so it is where a lot of people are turning to spend their money. In addition, it means smaller retailers are not restricted to one geographical area.’

In contrast to the decline of high-street sales, online shopping grew 38 per cent year on year for the first half of the year, easing back to 24 per cent in June, report IMRG. Of the 80 retailers researched, a third were SMEs.

Online shopping currently represents 17 per cent of consumer spending. However, it is predicted to rise to 30-50 per cent in the next five years.