Here at Newsflash Online, we know that technology has had a huge impact on the way that we shop. Sales events such as Black Friday are increasingly moving online, and the rise of e-commerce has changed the shopping habits of the population in general.
57% of shopping is now done online
It appears that the tipping point has now been passed as a new study by Mastercard has found that 57% of shopping across Europe is now done online. This means that only 43% takes place in-store, and this figure is even lower in the UK. Only 40% of transactions took place in-store in the UK – the lowest level in Europe.
The study, which took in the spending habits of more than 18,000 people across the continent, also found that just over a quarter (27%) of total spending now took place on mobile devices.
The Mastercard study was backed up by a separate piece of research by Divido, which found that only 7% of UK shoppers browsed exclusively in-store before making a high-value purchase of £250 or more. It did find, however, that 28% liked to view a high-value item in-store before making a purchase.
Retailers can use tech to enhance in-store shopping
Mastercard UK’s Head of Retail Janne Karppinen said that technology could be used to enhance the brick-and-mortar shopping experience.
She 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 expect to see this trend to grow as smaller retailers realise they can offer something the online world can’t.’
Retail Reflections’ Founder and CEO Andrew Busby agreed that the high street and smaller retailers with a physical presence still had some advantages over e-commerce channels. He said: ‘The continued growth of online means that retailers are now realising that their stores must excel if they are to attract and retain customers. Whilst we enjoy researching high-value purchases online, we also value a great in-store experience where we can interact, touch and feel the product before we make the final purchase decision.’
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