By Chanel Smith (@PYMNTS_EMEA)
More UK Shoppers Pick Online Over Offline
What’s In: Skipping the war-ridden car park and instead parking it on your couch to shop from your tablet.
What’s Out: Fighting the high street crowds to shop in-store.
What Happened: UK participants were asked what their top reasons for shopping online were, and UK shoppers replied that products were easier to find online than in-store.
The question was flipped, and the survey then asked what the top reason for shopping in-store was. Consumers said the checkout process was more thorough and comprehensive. The report revealed that making payments in person is less complicated and that shoppers valued employee assistance.
Moreover, mobile technology is another trend still picking up speed, and the report shows that mobile devices are now the primary shopping channel for 14 percent of consumers in the UK.
Europe Leads Mobile Commerce—Except For France.
What’s In: Shopping on your smartphone and tablet is in, but the French have yet to receive this memo.
What’s Out: Being left behind the digital revolution.
What Happened: A new study reports that various Europe countries are flourishing in the mobile commerce market, and consumers have a budding interest in shopping via mobile technology. But, this isn’t exactly the case for the French.
The French market is the most underdeveloped in Europe in terms of mobile commerce, and for several reasons. The study shows that nearly 10 percent of British consumers make purchases on a mobile device, which is comparably high next to countries such as Germany (6 percent), Italy (4 percent) and the Netherlands (4 percent). However, the mobile commerce market fell flat on its face in France, with only 2 percent of respondents shopping via mobile technology.
Additionally, only 4 percent of French consumers said they’ve downloaded and used mobile applications created by retailers. This figure is relatively low when compared to 13 percent in Germany and 20 percent in the UK.
Surprisingly, some even said they did not own a mobile phone.
Yes, you read that last bit correctly.
Emerging Markets Fuel Non-Cash Payments Surge
What’s In: Non-cash payment transactions rising due to increasing global financial inclusion and more financial services in developing markets.
What’s Out: This study suggests that paying in cash is apparently what’s out.
What Happened: New research from Capgemini and RBS points out that global non-cash transactions have had stable growth in recent years. The study argues that the rise and the high probability of future growth of non-cash payments are largely due to the increasing financial involvement in developing markets.
Non-cash payments in Central Europe, the Middle East, Africa and the emerging parts of Asia each increased by over 20 percent. Established markets across Europe had a mid-single digit growth rate, yet still reign as among the most substantial non-cash payments markets, alongside North America. The two continents combined account for nearly two-thirds of all non-cash transaction volumes around the world.
Developing markets, such as those found across the MENA region, are becoming more active with mobile money transfers, electronic payment initiatives, prepaid cards and even virtual currency. The payments industry predicts that mobile payments and electronic payments will increase by 58.5 percent and 18.1 percent annually through 2014.
Dutch Consumers Growing Comfortable With Shopping Online
What’s In: Retailers in Europe continuing to merge channels to encourage customers to shop online.
What’s Out: Consumers who remain hesitant about shopping online because of retailers offering a limited experience.
What Happened: The Dutch are warming up to online shopping, as new research indicates that the market reached €5 billion in the first half of 2013. This figure represents an 8 percent rise in comparison to 2012’s results. Dutch consumers are still struggling to recover from the continuing recession and have been reluctant to make purchases. Yet, online sales in the region continue to grow.
On average, online shoppers submitted five orders per customer in 2013. Additionally, the average shopper spent €109 on every order. Moreover, the majority of these online shoppers reported they had made an online purchase before, which signifies that online market growth is largely due to seasonal online consumers. However, results show there are more customers making their first purchase online as online shopping becomes more common across Europe.
Researchers predict that online sales will continue to grow in the latter half of 2013. They reported that mobile shopping will continue to play a crucial role in driving the market.
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