The UK now has the lowest proportion of High Street spending in Europe, according to research by Mastercard involving 18,000-plus people.
This shows that 43% of spending volume is done physically in stores, while online commerce accounts for 57%. 27% of this is made up by spending on mobile devices.
“Technology will have an increasingly important role in helping retailers woo shoppers back to the High Street. The most successful stores are always gearing themselves around the overall shopping experience. These shops are becoming places to interact and personalise products rather than simply a place to buy things. We expect to see this trend to grow as smaller retailers realise they can offer something the online world can’t,” says Janne Karppinen, Head of Retail at Mastercard UK.
The most popular products being purchased through m-commerce are clothes and accessories, followed by food and beverage.