UK online retail industry set to experience record year, Adobe study finds – Retail Technology Innovation Hub
UK shoppers spent £ 10.4 billion online in October, a 5% increase from the earnings generated by Covid last year, according to Adobe research.
This is the highest online spend on record in October and 58% more than in 2019.
This brings UK online spending year-to-date to £ 94 billion, up 12% year-on-year and 55% from the same period in 2019.
While most of the Christmas shopping season is yet to come, Adobe says the UK will eclipse last year’s numbers and set a new record in online sales.
The company uses Adobe Analytics to analyze billions of online transactions at UK retail sites. It also carried out a survey of 2,000 UK consumers during the first week of November.
It revealed: UK consumers prioritize convenience over finding the best price for their items, though 59% fear their spending on Christmas gifts and experiences will be more expensive this year.
Brits no longer believe in the deals offered by retailers and are so tired of Black Friday that most of them ignore it altogether.
Shoppers are also so concerned about supply chain issues and driver shortages that they are going to stores in person this Christmas to make sure they get their gifts on time.
Paul Robson, Global President of Adobe, said: “Online spending in the UK continues to soar to new heights as we enter the crucial Christmas trading period, even surpassing the 2020 figures when consumers don’t. had no choice but to buy online.
“We’re seeing growing skepticism about pre-Christmas discounts and shopping events like Black Friday, with many consumers prioritizing convenience this year and looking to get all of their gifts from one retailer.”
“It gives retailers a huge opportunity. Those who can target shoppers with tailored offers to attract them and provide them with a seamless digital shopping experience will be the big winners this year.