Internet Spend is ever increasing – but what about our industry?

|

Online shoppers in the UK spend more per household than consumers in any other country – we’re in top position! In 2015, the UK came in at £4,611 per annum ahead of Norway, the US and Australia.

Online spending has leapt by 28% in the past year according to a recent survey, which isn’t surprising considering that 92% of us are now internet users. Card spending online averaged at £422 million a day last year; a whopping £154 billion over the year, according to analysis of card spending data from the UK Cards Association.

People are also more likely to spend more online, averaging at around £85 per transaction, compared to the the in-store sales average of £38.

So what is it that we’re buying? 1 in 4 purchases during 2016 were categorised as ‘Entertainment’. This includes goods such as takeaway orders and cinema and concert tickets.

As always, some industries are proving significantly more internet savvy than others. To give you an example, the travel industry comes in at the most online friendly, with nearly £4 in every £10 paid for online. A quarter of all spending on clothing is online, and 61% of all cinema and theatre spend is done using the internet. On the other hand, over 98% of all spending in dry cleaning shops, pawn shops and of course pubs take place in store, which proves that in some areas, nothing has changed.

So here’s your bit…

We’d like to establish the current MI level of internet spending; if you could send an estimate regarding your shops internet vs physical sales comparison, we could establish an average industry ratio.

As an example, all we’d need is ‘instore 80%, online 20%.’ Please send any estimates to alice@mia.org.uk. Much appreciated!

Please note: all responses will be kept strictly confidential