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UK Online Shopping Trends and Statistics

ONLINE SHOPPING TRENDS When it comes to shopping, everybody likes to do it their own way. But recently, certain methods have become increasingly popular, which is why so many businesses are investing in omni-channel retailing. Facts and Statistics including online shopping activity, new technologies and the top retail trends for 2015. What goods did we buy online in 2014? According to the BBC, one in seven shops currently stand vacant on the high street. As regular stories appear in the media reporting the decline of the high street, it is interesting to note that almost three quarters (74%) of all adults reported buying goods or services online. So, what exactly were we buying online in 2014? *Clothing 50.5% Household Goods 42% Films & Music 32% The main payment method for purchases over the Internet was via credit or Books & Magazines 32% debit card at 87% Holidays 37% Tickets for Events 36% Food or Groceries 23.5% Two in every five adults (40%) aged 65 and over bought online in 2014; more than double the 2008 estimate of 16%. - Video Games 15.3% to Electronic Equipment 25.5% - Travel arrangements 37% European countries benefiting from online retail sales Online Sales (£billion) 2014 £44.97 France lost its third place in 2013-14 but is expected to regain it again in 2015 with a forecast of 8.0% £36.23 £26.38 At present Germany has the fastest- growing online sectór (23.1% forecast for 2015, compared with 25.0% in 2014). £6.87 £5.33 £3.61 £5.09 £3.57 In Europe as a whole, online retailers in 2015 are expanding 14.2 times faster than conventional outlets creating major strategic issues for store-based retailers. Immature markets, such as Italy, Spain and Poland, have to overcome structural issues in the quality of their telec ommunic ation networks, but can be expected to develop rapidly by increasing the number of eshoppers in their population and then inducing them to purchase more regularly. Smartphones; consumers first call for online shopping? New Technology Update Apple iBeacon Smart Statistics > 32% of people in the UK make a monthly purchase via their smartphone. > 57% of smartphone users have used their device to search for details when out shopping. With an iBeacon network, any brand, retailer, app, or platform will be able to understand exactly where a customer is in the brick and mortar environment. > 63% of shoppers use their smartphones to compare prices. > 18% used a "reserve and collect" service. This provides an opportunity to send customers highly contextual, hyper-local, meaningful messages and advertisements on their smartphones. > 84% abandoned their smartphones to use tablets or desktop. UK consumers are far ahead of Europe in terms of using smartphones for online shopping. But smartphone shopping still has a long way to go to become market leading. The Benefits of Multi-Channel Retailing Multi-channel retailing is a marketing strategy that offers your customers a choice of ways to buy products. A true multi-channel strategy covers purchases from a store, purchases from a website, telephone ordering, mail orders, interactive television, catalog ordering and comparison shopping sites. The aim of a multi-channel retailing strategy is to maximize revenue and loyalty by offering your customers choice and convenience. Experience Integrate Pricing Reach A successful multi- channel strategy offers your customers a consistent quality of experience, whichever channel they use. You can use the data available from multi- channel strategies to identify customer preferences and maximize lifetime revenue. A multi-channel strategy gives you the ability to the option of charging the expand your busineśs on a national or global scale without investing in further physical stores. When you operate a multi- channel strategy, you have samė price for a product across all channels. Top 5 Retail Trends of 2015 Retrofitting the Marketing function Retail has learned Marketing can no longer operate in a silo and must collaborate across the entire organization, as well as at every level. The silos of yesteryear must come down to create a truly seamless integration across all shopper- facing channels. Emphasizing "store theatrics" In-store technologies are being deployed not just to facilitate shopping, but to also add elements of entertainment and engagement in the physical store environment. With store traffic down, retailers protect their share by creating environments that attract customers and keep them returning. Amplifying shopper connectivity Shoppers are increasingly using mobile devices in stores, and it's quickly becoming a requirement for brick-and-mortar environments to embrace Wi-Fi and enable Wi-Fi technologies that ease shoppers' pain-points in acquiring a Wi-Fi signal. Most importantly, in-store Wi-Fi is a wonderful conduit for two-way communications with customers, delivering feedback on store experiences, products and marketing campaigns. Integrating buy online, pick up in store Buy online, pick up in store promises an additional touchpoint with the customer, presenting another opportunity to build and foster a strong relationship, with the aim of increased loyalty and retention. The challenge, of course, is to execute this strategy flawlessly and exceed customer expectations. Focusing on shopper interactions Within the physical store, enabling technology allows for retailers to understand the associate-to- customer interaction effect. This can be as simple as understanding an "initial greet" time, or understanding the length of time an associate spends with a customer. Measuring the impact with additional data points like conversion and average basket size is very powerful. Sources: Options Integrated Multi Channel Retailing

UK Online Shopping Trends and Statistics

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When it comes to online shopping, everybody likes to do it their own way. Certain methods in recent years have become increasingly popular, which is just one reason why so many businesses are investin...



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