Retail Gazette reported this week that UK ecommerce spending rates are set to reach an estimated £60 billion by 2016, fuelled by an increase in multichannel shopping.
Consumers choosing to shop via mobile and tablet devices are adding to growing levels of ecommerce by spending around £8.9 billion a year. With PC-only shopping rates falling in comparison, these additional digital channels are now providing a stronger platform than ever for fraudsters to target.
New research carried out by RetailMeNot highlights the significant difference in spending rates between PC-only and multichannel shoppers. PC-only shoppers are making fewer annual transactions and spending around £57.53 on average. In comparison, mobile and tablet users are spending increasingly more, accounting for over £98.72 of online purchases.
Year-by-year statistics reveal a clear picture of the way UK ecommerce habits and rates are headed. In 2014, multichannel shoppers spent £1,531 per year, with PC-only shoppers spending £965, around 59% less. The gap has significantly widened since, with the difference set to grow even more to 94% between the two groups. By 2016, multichannel shoppers are estimated to spend £1,962 online, in comparison to PC-only users who are expected to spend around £1,014, according to RetailMeNot.
With the clear continuous growth in ecommerce fuelled by the amount of payment opportunities present for shoppers today, it is only a matter of time before fraud follows. Merchants need to be aware of the effects fraudulent activity can bring, such as increased chargebacks costing both the merchant and customer.
It is important that merchants are looking ahead, ensuring plans are in place to protect themselves in the future. If businesses respond now to the ever-growing ecommerce trend by using the right prevention techniques to help fight fraud and protect their customers, both time and money can be saved, to help turn this £60 billion into greater profit for merchants.
