UK VS The World – Ecommerce Buying Habits Continue to Rise
Early this year, one of our digital experts at Croud wrote a post on the rise of online spending habits in the UK. It was reported that ecommerce spending in the UK had risen by 14% YOY from 2010 to 2011 and the average online spend per person, per year was £1,083. With that figure being £463 more than the annual individual spend of those in the US, we discussed the reasons behind this strong rise in the UK, with a view on the rest of the globe.
We suggested through research and analysis, that developments in search and better technology led to the fact that globally, average consumer spending had increased since 2007. The figures reported in an Ofcom report and a study from Econsultancy lead us to believe that it is the English language that is aiding the growth of ecommerce in the UK, with it being the world’s most popular alternative language to their own. This encourages multi-site and international shopping, with online buyers being more likely to shop for things on websites that support the English language if they cannot find their own.
The blog post also outlined some obvious buyer trends that are helping people in the UK to purchase things more quickly and conveniently, including the rise in debit cards and a more competitive, lower priced internet market.
One thing that seemed obvious to us was the increase in importance of website standards. Usability, the process to payment and checkout cart all play a huge part in ecommerce and should be an integral consideration in any ecommerce campaign. Our “Croudie” referenced a report from Email-Brokers, where it was highlighted that the UK and Liechtenstein were the leading the way in terms of ecommerce, particularly in terms of processing and issuing orders and payments. It was also brought to light that France, Germany and the Netherlands still had 40% of their business offline, and these were the countries with the highest proportion of businesses operating online – suggesting overall this number is still fairly low.
However, with this being the case, it is still clear that there is a gap in the market for wider digital developments, skills and ecommerce experience. The graph below indicates that in general, with all countries experiencing a progressive growth in online spending, we are set to see this continue to rise, as more European businesses develop their online offering. What are you doing to stay ahead of your competition and give your customers the best experience possible?