UK click-and-collect worth £42bn, says Barclays
Click-and-collect shopping will be worth £42 billion in the UK this year, according to a new report from Barclays.
The £42bn is 8.4 percent of the industry’s total annual income.
The bank’s research found that click-and-collect now accounts for 40 per cent of sales for retailers who offer the service, up from 37 per cent a year ago.
The study – ‘What’s in store for retail?’ – focuses on retail businesses with over ten employees and looks at the rise of ‘hybrid’ shopping, which involves both physical and digital interactions.
Barclays said the popularity of the service grew during the pandemic but, unlike pure online sales which peaked during that period, it has continued to grow post the lifting of lockdown restrictions, indicating that click-and-collect is a consumer behaviour that is here to stay.
Barclays’ research also showed that consumers like to research products online and in-store in equal measure for segments including fashion, 33 per cent, accessories, 31 per cent, and garden products, 28 per cent.
The research also found that having an online and physical presence can be advantageous for a retailer’s appeal, with 24 per cent of consumers reporting that they can be hesitant when buying from online-only brands — a figure which drops to just over one in ten – 13 per cent — when businesses also have physical stores.
“The pandemic drove everyone online, and now the rising cost-of-living is increasing business outgoings while reducing consumer spending,” said Karen Johnson, head of retail and wholesale at Barclays. “Encouragingly for the UK’s retail sector, however, businesses are adapting their sales models to weather these financial storms as effectively as possible.”
She added: “Links between digital and physical shopping are being evolved, which are opening up new opportunities and ways to generate income.”
