UK retail sees a bigger shift to online
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Consumers are spending more money online than they are in shops, suggests a new Mastercard study.
Mastercard conducted research through an online survey of 18.174 adults in 12 countries, including the UK.
According to the Mastercard study, 57% of spending takes place online while only 43% of spending is done in stores. Mobile devices are growing as a platform for consumer spending with more than a quarter (27%) of all spending taking place on phones. The Mastercard study found that 20% of mobile spending was done via a smartphone or tablet at home or work, 7% of spending on smartphones or tablets were done elsewhere and 30% of spending online was done using a PC or laptop.
The study found that, some countries have higher levels of in-store spending and lower levels of online shopping. These countries include Russia (59%), the Netherlands (57%) and Switzerland (56%).
Mastercard says that the shift in levels of spending and the online shopping movement correlates with the Mastercard Spending Pulse tracker. The latest edition suggests that there has been an 11.1% rise in online shopping during the holiday season.
James Karppinen, head of retail at Mastercard UK, said:
"Technology will have an increasingly important role in helping retailers woo shoppers back to the high street. The most successful stores are always gearing themselves around the overall shopping experience. These shops are becoming places to interact and personalise products rather than simply a place to buy things. We can expect to see this trend grow as smaller retailers realise they can offer something the online world can't".
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