THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
UK 15-24 year olds will spend £5.7bn online in 2014

New research has shown that young shoppers are set to spend £5.7 billion online in 2014.

GENERAL MERCHANDISE

UK 15-24 year olds will spend £5.7bn online in 2014

However, the study by Verdict also warns that retailers need to rethink how they address young shoppers, who are far more likely to be engaged with social media and mobile devices.

Verdict said: “With e-retail more competitive than ever before, even as it grows to be worth £39 billion in 2014, targeting shoppers directly is essential, but the 15–24 year old age group is proving to be elusive.

“Unlike all other age groups, they prefer the privacy of the bedroom when shopping online instead of the more social setting of the living room, but are more engaged with social media, with 20% having purchased a product by clicking through Facebook, compared to the average of just 10%.”

The research shows that 15 to 24 year old shoppers are twice as likely to shop on-the-go with a mobile device as the average shopper, and they also buy more impulsively, with one in seven of their purchases made without any research.

However, consumers in the age group were found to be more loyal to high street retailers and that 31% of their purchases are researched in the physical stores of the retailers they buy online from.

Verdict said: “The varying successes of social media interaction and the changing role of mobile devices all prove that e-retail is forever evolving.

“Rather than being a channel that requires infrequent injections of investment, the speed at which customer behaviour is changing means that retailers must set aside budget to constantly adapt their online offerings, or risk always playing catch up.”

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing