Tis the season for discounts, shopping and e-commerce! Are you, your timeline and your budget ready for the holiday season? As it quickly approaches shoppers will start buying early, spend lots and use many different tools to purchase their holiday items.
More than half of British consumers, about 57 percent, have already begun browsing and purchasing items by mid-September. In fact, nearly 21 percent have already spent £300 by the beginning of October!1
The holiday season also means big business for retailers and shops across the UK, and even more so this year. According to a recent survey, almost 31 percent of UK consumers plan to increase their spending on holiday shopping this year.1 In fact, holiday shoppers are planning to spend on average, £250 or more than they did last year.
With all the pre-planning and extravagant spending, curious as to where those holiday pounds are being spent? Below, we outline how and where consumers shop during the holidays.
In 2014, the UK noticed the country’s love for online shopping. This holiday season, an estimated 65 percent of shoppers plan to spend approximately 50 percent or more of their Christmas gift pounds online. It seems not only convenience, but free shipping has much to do with e-commerce success, as free shipping is the number-one incentive for buying gifts online (64 percent).
While online shopping has certainly grown in popularity over the years, heading to the nearby shops still hasn’t completely lost its appeal, with an estimated 32 percent of holiday shoppers still preferring to go to stores. Surprisingly enough, on average, 86 percent of consumers prefer to spend their pounds at local, independent stores over department stores or discount outlets. However, one thing has not changed — consumers are still motivated by great deals. In fact, an estimated 32 percent will shop in-store on Christmas Eve to get the best value!
Most Popular Retail Stores (With Apps) in The UK3
All the research and surveys suggest that smartphones will be king this holiday season. With the advancement of technology and the prolific use of smartphones, an estimated 34 percent of UK shoppers will be making holiday purchases through smartphone apps. Impressively enough, most UK consumers flock to the same stores and smartphone apps to find the best deals. Take a peek at the most popular retail stores that have smartphone apps in the UK according to traffic:
1. Amazon UK
Amazon is a global online marketplace and leading online retailer of products that inform, educate, and inspire. Their smartphone app is free and offers programs for overnight and one-day shipping for an annual fee.
Argos is a major catalogue retailer, which operates in the United Kingdom and Ireland. An estimated 18 million households will receive an Argos holiday catalogue this holiday season.
Apple is a multinational technology company, based in California. They are the creators of the iPhone and a leading design and development conglomerate. Last year, they reportedly made £11.8bn over the course of the holiday season.
Tesco is a multinational grocery and general merchandise retailer. Over the course of the holiday season in 2014, they reportedly profited £3.1bn.
5. Marks & Spencer
Marks and Spencer is a major multinational retailer, which is headquartered in the City of Westminster, London. They specialise in clothing, home products and luxury food items.
1Accenture. (24 November 2014). U.K. consumers set to spend more this Christmas. Retrieved 16 October 2015 from https://newsroom.accenture.com/industries/retail/uk-consumers-set-to-spend-more-this-christmas-majority-plan-to-shop-on-black-friday-and-cyber-monday-accenture-study-finds.htm
2PlanetRetail.net. (2015). Where’s Britain spending? The Barclaycard consumer spending report Q4 2014. Retrieved 16 October 2015 from http://www.planetretail.net/presentations/BarclaycardConsumerSpendingReport.pdf
3May, N. (30 June 2015). Analysis: The top 50 retailers by online traffic in the UK. Retrieved 16 October 2015 from http://www.retail-week.com/multichannel/online-retail/analysis-the-top-50-retailers-by-online-traffic-in-the-uk/5076008.article
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