A 14 per cent fall in the use of cash means the method of payment now stands at its lowest level on record as online and contactless payments soar.
New research from e-commerce giant eBay has shed new light on the way consumers interact with multichannel retailing brands – with a third of those surveyed using both online and offline sales channels in their purchase journey. A survey conducted in the UK and Germany found that 31 per cent of consumers visited a store before buying online, while 34 per cent research a product online before making a purchase in store.
Online spending in December is expected to pass the £10 billion mark for the first time, rising 15 per cent on last year’s results.
Spending on smartphones rose by an impressive 150 per cent in September, boosting an overall 13 per cent increase in internet shopping since August.
The latest figures released by the British Retail Consortium and Nielsen find a toxic mix of bad weather, supermarket promotions and long-standing economic pressures led to prices in high street stores rising at their slowest rate in three and a half years. Food prices fell 0.4 per cent in April, while non-food prices dropped 1.1 per cent compared with March to a rate last seen in November 2009.
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