Most online retail businesses will not survive in the long term, according to high street bank HSBC.

While internet shopping will become an established part of mainstream retailing in the next few years, the real winners will be large existing businesses rather than start-up e-tailers.

Dennis Turner, chief economist at HSBC Bank, said: "Those companies which can provide electronic distribution and are backed up by extensive resources, established brands and experience at running complex distribution systems will come out on top."