Offline Fuelling Online Retail Spend Says Royal Mail
October 23rd, 2006 by pamela
According to a new survey by the Royal Mail the average UK shopper has spent an average of £609 online already this year with the figure set to top £1,000 as the Christmas rush begins.
The survey showed that 61% of consumers consult a catalogue before making an online purchase, with 83% of respondents saying that they regularly use offline techniques to research products before buying online.
The Royal Mail’s Head of Multi-channel Retail Catherine Campbell, said: “Online retail continues to grow at a phenomenal rate and the intrinsic link between the rise in spending and the use of catalogues is only too clear. Consumers are demanding greater choice and convenience about how, where and when they buy their goods, and the marriage between online and catalogues is a thriving relationship.”
According to the IMRG (Interactive Media in Retail Group), online shopping accounts for 10% of all UK retail spending.
An article in The Sunday Times sets online retail growth at around 3% of retail sales, growing to 7% by 2010. Retail online spend is expected to reach £10.3 billion this year, excluding such services as travel and finance
Barriers still revolve around the intangibility of internet shopping with online retail having a higher return rate than traditional outlets usually due to user’s expectations not being matched by delivery. Fulfilment, especially during high demand periods such as Christmas, is also a concern.
Retailers with offline and online crossover opportunities are ahead of the curve, as shown by the Royal Mail survey, however the growth in high value sales ( Ebay sells a car in the UK every 2 minutes) point to additional areas of growth.
Posted in Stats & Research |
