UK Ecommerce Spend Rose by 8.4% Year-on-Year in April 2016
According to Visa the amount UK consumers spent online increased by 8.4% year-on-year in April.
Research by the payments firm found a large increase in the number of year-on-year online transactions made by consumers, although the number of face-to-face transactions only saw an increase of 0.2%.
The rise in ecommerce sales in April is nearly double the increase in year-on-year sales seen in March 2016 – up 4.1% from the same period in the previous year.
UK and Ireland managing director at Visa Europe, Kevin Jenkins, said the type of transactions being made signalled the move towards what he described as an “experience economy” where consumers are spending less on physical goods and more on experience-based goods such as eating out and holidays.
Even though online spending in the UK saw the most significant growth, spending across all channels has been slowly increasing – reaching an annual turnover of 2.5% in April 2016.
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