British consumer online spend is up 20% for 2011
Online spend is up 20% over the same period in 2010, bringing the total spend for 2011 online so far at £10bn. If you’re thinking about moving your business payment platform online, there has probably never been a better time.
Latest figures from the IMRG Capgemini e-Retail Sales Index show that online buyers spent an equivalent of £79 per person and a total of £4.9bn in February 2011. Online shoppers have stocked up in advance of duty increases, with alcohol sales rising by 25% on February 2010.
John Lewis' sales were up by 20% on the same period in 2010, with clothing sales rising by over 50%.
Tim Spooner Director of Information at IMRG said “The February Index results paint an optimistic picture for the e-retail market, especially when compared with the poor performance of traditional retail sales last month. UK shoppers spent a staggering £10bn online during January and February, a clear indicator of how strong consumer confidence is in the online channel even during a period in which high street spending is down.”
Here is a list of useful E-Commerce statistics and trends compiled by EConsultancy:
UK Online Payment Trends: (Cybersource)
- 94% of merchants accept credit and debit cards, while 41% of merchants accept PayPal payments. 27% of merchants accept payment in currency other than GBP, while 15% accept cards specific to non-UK regions.
- Google Checkout payments have risen by 1% during 2010, and mobile payments have increased by 5% during 2010.
E-commerce and delivery: (Snow Valley)
- There was a slight increase in the speed of delivery during 2010, with 48% of orders arrived within two days, up from 46% last year.
- 81% of orders arrived within the timescales given by retailers, though this has dropped from 91% in 2009.
- Retailers are getting better at displaying delivery charges, with 34% showing this information on product pages, 43% on the shopping basket, while just 21% waited for customers to enter the checkout before revealing this information, down from 30% last year.
Social commerce: (Immediate Future)
- 46% of online shoppers do not have a clear idea of what they want to buy when they go online. Emerging groups of shoppers, termed gatherers and collaborators, are spending time on social platforms researching and sharing information prior to making a purchase.
- 60% of UK online shoppers would be more likely to shop at a site that rewarded them for reviews or recommendations.
- Retailer incentives do not affect the credibility of customer reviews (32% think better of a brand that has been recommended, 30% when the recommendation has been rewarded).