UK online spending hits new peak

UK online spending hit a record high in October at £10.4bn (5% up on 2020), with every indication that a record year is in store, but the Adobe Digital Economy Index also points to how shopping habits are changing. 

Why it matters

Year-on-year spending in October was 55% higher than in 2019 and 12% up on 2020, pointing to Christmas spending starting earlier than ever as cost-conscious consumers spread their shopping over a longer period and as they seek to avoid publicised supply chain issues. Retailers need to be on top of their planning and stock management.

Key findings

• Many consumers prefer one-stop shops
  More than one in five consumers (22%) choose to do all their Christmas shopping on one website; this is especially true of men (25% vs 19% women) and younger consumers (37% of 18-34 year-olds vs 10% of those over 55).

• Consumers are sceptical of Black Friday
  A majority (53%) don’t plan to shop on Black Friday at all – and 61% of those said it was because they were sceptical about the size of the discounts on offer. Half of shoppers say deals aren’t as good as they used to be – but two thirds also say getting a good deal is the most important factor when shopping online, over product availability (64%) and free shipping (56%).

• Shipping delays
  Forty-five percent of UK consumers are worried about shipping delays and more than half (54%) want to secure items before they go out of stock. A third (32%) intend to shop in person to avoid any issues around shipping delays. Many are opting for experiences – eg concert tickets or spa treatments – rather than products.

Sourced from Adobe