Brits happy making high-value purchases online
Written by Peter Walker
Just 7 per cent of Brits browse exclusively in-store before making a high-value purchase - identified as costing over £250 - putting pressure on the value of bricks and mortar stores in the UK.
This is according to a survey conducted by Opinium Research on behalf of point of sale (PoS) platform Divido amongst a nationally representative sample of 2,005 UK adults during November.
However, all is not lost for the High Street, as over a quarter (28 per cent) of consumers like to go in-store to look at an item before making a high-value purchase, while almost a third (32 per cent) are happy with just having the option to complete a transaction in-store.
The research also highlighted spending influences, with social media promotion surprisingly having limited influence on consumers. In fact, UK shoppers are twice as likely to be influenced by friends and family over what they see being promoted on social media – just 30 per cent stated social media promotion affects buying decisions.
Meanwhile, the availability of different finance options is becoming more appealing for Brits, with 17 per cent stating that this is an important factor when making high-value purchases.
Almost two thirds (61 per cent), said they would remain loyal to a retailer if the payment process was easy, and a further 36 per cent would shop again with a retailer if they offered PoS finance.
“UK consumers have finally had their voices heard when it comes to the changing nature of the UK High Street,” commented Christer Holloman, chief executive and co-founder of Divido. “Choice is what drives their decision-making - whether that’s where they buy, how they buy or what they buy.
“Only those retailers that understand the changing nature of consumer spending around high-value purchases will be the ones that thrive in the future - be it online or on the High Street,” he added.