Ecommerce is predicted to experience phenomenal growth as research reveals the emergence of a new type of global online shopper.
Global e-shoppers spend on average 22% of their money on goods and services online, shop for five hours a month, watch TV whilst doing so and make the majority of their purchases at 8:40pm, according to the Global Online Shopper Report.
Commissioned by WorldPay, the report surveyed 19,000 consumers and 153 senior decision makers from global retailers and found shoppers are increasingly varying the devices they use to shop online. Over half (55%) use a laptop, whilst 19% use a smartphone and 11% a tablet, according to the figures. Mobile device usage is rising particularly among 'heavy spenders' – those who have spent 30% of their money online in the past year – with 55% using smartphones and 67% a tablet in the last three months.
Additionally, the report showed more shoppers are buying on the move with 29% of global shoppers making purchases at work; 6% at college or university, in a car of in a physical retail store; whilst 7% make online purchases when out at a café, bar, restaurant or pub; and 8% whilst on holiday.
In terms of usability, the survey revealed China has the largest percentage of shoppers that use their smartphone to buy online with 46%, followed by India (40%).
Philip McGriskin from WorldPay said: “Online shoppers are becoming increasingly mobile, no longer chained to their PC to buy goods and services. The way shoppers engage with mobile devices is evolving and driving the future of ecommerce as consumers look to purchase through apps, mobile websites and using their device on the move.
Worldpay also predicts eCommerce spend to increase dramatically in the near future with 64% of those surveyed claiming they would consider spending more than 50% of their disposable income online 7% claiming to already do so.
McGriskin added: “Ecommerce is growing at a rapid pace, with consumers in nearly all countries spending a growing percentage of their income online. The consumer appetite for buying cross-border is strong, particularly in the high-growth developing online economies.
“This provides merchants with an excellent opportunity to increase sales by targeting overseas customers. As technologies and economies develop, merchants will need to be ahead of the game to understand consumer needs, and offer the right services to take advantage of new eCommerce opportunities.”
Adam Stewart at Play.com explains that that whilst ecommerce is growing rapidly, a multichannel approach remains important.
He said: “From a retail standpoint, the multichannel customer is much more valuable than the bricks and mortar customer, but the bricks and mortar experience is something many consumers still cherish. The key for merchants is to combine the flexibility and utility of the multichannel approach with the customer service and tangibility of being in a physical shop. By bringing together these elements, retailers will be able to offer a more compelling service to their customers.”
To download the Global Online Shopper Report, click here.