£3,170 spent online every second with UK-based merchants
£100 billion was spent online with Visa at UK-based merchants in the year to August 2013, equating to £3,170 being spent every second, according to figures released by Visa Europe.
The payment technology company also revealed that £1 in every £4 of all spend with Visa at UK merchants is now spent online.
Total annual online spend with Visa at UK merchants has doubled in four years: in 2009 £50.2 billion was spent online with UK merchants, a total that was surpassed in the first six months alone in 2013 at £52 billion.
According to Visa Europe, UK merchants are attracting spend from well beyond the country’s borders with almost a fifth of e-commerce spend from outside the UK. International spend with Visa at UK merchants totalled £16 billion, with £7 billion of that spend from outside Europe. The top five international spenders were: the USA at number one, Italy at number two, and France, Japan and Germany at three, four and five respectively.
Marc O’Brien, maanaging director at Visa UK said: “In just four years we have seen online spending at UK clothing merchants with Visa nearly double in growth from £1 in £7 in 2009, to £1 in £4 in 2013. In fact, online spending with Visa is now at an unprecedented scale across all sectors including airlines, supermarkets and services, indicative of the ever increasing preference to make purchases online, largely fuelled by the explosion in smartphones and tablets.”
In February 2013, Ofcom announced in a report that internet shopping is now more popular in the UK than any other major country, as consumers in the UK spend an average of £1,083 a year on internet shopping compared to just £842 in Australia (the second highest country studied).
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