Trade

Consumer Spending Via Online Channels up by 3.7%

UK shoppers spent £24.4bn online over the Christmas period, up 3.7% year-on-year, as deep discounting and BNPL drove sales.

Online prices were discounted in the range of 11% on average when compared with pre-Christmas season levels, according to Adobe.

Data from the computer software company also found Brits spent £3.3bn using BNPL services over the season, spanning from 1 November to 31 December, up 12.7% year-over-year.

The highest spend days were Black Friday, Cyber Monday and Boxing Day, with the figures taking the total amount spent using BNPL in 2023 to £16.8bn.

A total of £11.2bn was spent throughout the whole of December, up 1.5% compared to last year.

The most popular products bought across Christmas included cookware sets and small kitchen appliances, personal care products and jewellery.

Overall, online spending grew by 3.7% in 2023 compared with 2022, but much of this growth is propped up by deep discounting from retailers and growth in the use of Buy Now Pay Later services showing consumers are still keeping a close eye on their finances.”

Related posts

Amazon Joins Hands with Future Retail to Gain Better Momentum in Indian Market

Perfect Sourcing Newsdesk

Karnataka Attracting Investments for Textile and Apparel Sector

PS NewsDesk

Garment Show of India Joins Hand with Sourcing Consultants Association (BAA)

PS NewsDesk

Leave a Comment