A new survey reveals just how important it is for businesses to maintain and develop their online presence.

According to the latest Interactive Media in Retail Group (IMRG) index, the total amount of money spent by British consumers online since 1995 will exceed £100 billion by the end of May.

In April alone, online sales to Brits were worth £3.465 billion, highlighting how important the internet is becoming to business revenues.

"This is an astonishing landmark," said Jo Evans, IMRG's managing director. "It's been obvious for a couple of decades that a secure, networked consumer marketplace would arrive and be popular, but actually witnessing its profound success and meteoric growth still takes my breath away.

"April's online sales were worth about the same in one month as London's West End takes in a year."

Overall, the study showed that online sales have increased by 55 per cent when compared to the same month last year. On average, the year-on-year growth rate for online sales has been 32 per cent over the last 12 months.

An effective online presence requires companies to have up-to-date computer systems and a system in place to deal with their IT support.