Ecommerce Websites 'Propping Up' High Street
Online purchases are up by a fifth over the course of this year, according to the most recent figures released by Kantar Worldpanel. The figure is particularly notable as the retail industry in the UK as a whole saw growth of just 1%, indicating that ecommerce markets are ‘propping up’ the high street.
Kantar Worldpanel operates in 60 countries worldwide and counts around 3,500 people as part of its global team. As the world leader in consumer insights and data, based on continuous consumer panel studies, the company gather, monitor and analyse data consistently, data that is hugely influential in sectors as diverse as fashion and telecommunications.
The value of global online sales is estimated to reach in excess of £84bn by 2025, a figure that represents a doubling of ecommerce sales and will further enhance the UK’s status as a world leader in this sector. Globally, around one quarter of consumers regularly carry out online shopping transactions: this figure is much higher in the UK and is particularly driven by supermarkets and major retail chains.
Kantar Worldpanel’s illuminating report also showed that consumers in the UK are likely to spend more money on an online purchase than in a bricks-and-mortar store. The average basket value for an ecommerce shop was reported to be £43, with a much lower £10 being spent on high street purchases. Almost 25% of UK consumer spending comes from the same group of retailers that are regularly used, such as Amazon, indicating a small yet important loyalty impact on the market. Many new retailers continue to emerge, finding it relatively easy to win over discerning online shoppers with the right combination of content, offers, style and ecommerce knowledge.
The rise and rise of ecommerce websites is a challenge being admirably met and overcome by Brick technology and our clients. By providing websites of world-class quality, each designed and maintained carefully around the present and anticipated future needs of the individual business, we are able to ensure our clients’ ecommerce websites remain visible, viable and profitable as the market becomes ever more crowded.
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