UK online shopping trends project a reach of over 200 billion euros in turnover by the end of 2019. This will be a 14.6% increase from the turnover of 175 billion euros in 2018. Here is a look at some more insight regarding the e-commerce market of England and spending habits within the country.
Now, the e-commerce market of England has made up approximately 8% of the country’s GDP, compared to the 5% contribution only a few years ago.
In addition to the total sales numbers sky-rocketing, the annual amount spent per online shopper has also grown drastically. Compared to 2015, where the average amount was 2,515 EUR, according to the Ecommerce Foundation, the average customer now spends 3,620 EUR in online shopping.
According to a survey by Nettler, during 2018 Brits spent the most money online on vehicle-related purchases and holidays.
Vehicle-Related Purchases, Holidays and Food
23% of the UK’s total online spent goes to vehicle-related purchases. Holidays were next on the list at approximately 13% of the country’s total online spend. The average amount that Brits spend on holidays online is 3,250 EUR. Additionally, buying food and drinks online is quite popular within the country with an average spend of 1,830 EUR per year. They also spent approximately 991 EUR on online takeaway and 1,279 EUR on alcoholic beverages.
Fashion and Beauty
The survey by Nettler also asked what consumer regretted buying online the most. Surprisingly, 50% of people said they regretted their fashion purchases online. Fashion accounted for 4% of all online purchases with an average spent of 882 EUR per year. Interestingly enough, in regards to the beauty category, the survey found that men spend more. In fact, men were almost twice as likely as women to put beauty products on a credit card or overdraft. The average Brit spends approximately 839 EUR per year on grooming and beauty items.
UK Payment Habits
UK citizens are creatures of habit like most of us and this is no different when it comes to the methods of payment they use. Debit cards and cash are the most common payment method within the UK. They are followed by direct debit and credit card payments. In the online payment realm, card dominates, accounting for 52% of all online payments made in the UK in 2018.
When targeting any market it’s important to know what the local spending habits are and what the preferred payment methods are within the country. This information can help a merchant keep the consumer happy while ensuring higher profits in the long-run.
Social Media Usage and It’s Affect On the Market
Based on research by Statista, the use of social media websites is quite common in the UK. Mobile social media users reached approximately 39 million in 2018 and this number has surely grown. Approximately,mobile social media usage has up to 58%. Facebook is making it the most visited social network in the UK by adults. Facebook is a great platform to use for merchants who want to target a larger audience for their e-commerce business, closely followed by YouTube and Twitter. In addition, Facebook is most favoured by people ages 23-37, people who have higher buying power than younger audiences.
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