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Brits are big spenders when it comes to online shopping

Thursday, June 19, 2014 - 11:26 by Graham Miller

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In a report published this week, it has been revealed that British consumers spend an average of five times more when they buy their groceries online, as opposed to in-store, according to the Financial Times.

The Kantar Worldpanel study revealed that in addition to encouraging people to spend more cash, the web can actually benefit bricks and mortar retailers, because it means that they can generate more revenue from sales.

So why is it that people are so liberal with their spending when they shop for groceries online? Analysts believe that it is based on the fact that consumers tend to carry out some of their most comprehensive shopping sprees on the web, restocking on a whole range of items that they do not buy regularly.

Meanwhile, real world grocery outlets are used more for topping up with consumables that households get through much more regularly. This explains why companies like Tesco and Sainsbury's are focusing on opening smaller stores which cater to this convenience crowd, while plumbing lots of cash into developing great platforms for safe shopping online, so that customers are well looked after in this area as well.

The international survey revealed that British shoppers actually spend more online than any of their counterparts in foreign markets, which is yet another indication of just how mature this industry has become.

Interestingly, experts predict that France will actually overtake the UK in the online grocery shopping stakes within two years, because its own supermarket retailers are focusing on click & collect services, leading to the increased popularity of this approach. But for growth to continue at its current pace, retailers will have to innovate with their e-commerce offerings, making them more fun and functional, according to analysts.