UK Online Shopping Accelerating 

An interesting article appeared on the Guardian Unlimited website on Saturday that gave the latest figures and trends in online spending in the UK.

Spend on content tends to mirror the general online spend so these are always interesting figures to keep an eye on.

Here are some of the most revealing facts and figures:

  • The Interactive Media in Retail Group reckons online spending is growing 10 times faster than spending in shops.
  • British shoppers seem to be making more use of the internet than consumers on the continent. Last year, UK buyers spent an average of £875 on the web. That compares with £734 for second-placed Denmark, £405 for sixth-placed Germany and £254 by the average French shopper, according to the European Interactive Advertising Agency.
  • Why is online shopping taking off faster in the UK than the rest of Europe? Theories include:
    • The weather - in the UK the cold and wet weather is more conducive to spending time shopping online. The trends are similar in Denmark, Norway and Finland.
    • The British work longer hours so have less time to spend shopping.
    • The faster adoption of broadband in the UK compared to the continent.
    • US retailers tend to establish their operations in the UK because of the language and cultural familiarity. This gives UK consumers a head start.
    • Credit card usage is higher in the UK and there appears to be a greater willingness to input credit card details onto the web.

Whichever figures you look, at online spend is increasing for both the purchase of physical goods over the web and digital products and services. This trend will start to accelerate over the next few years.