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UK Consumers Online Spending Kings

UK consumers spend more money online than any other country in the world, according to the latest figures from the UK Cards Association.

The research from the trade body, which represents financial institutions which act as both card issuers and acquirers, is based on 2015 figures.

Consumers in the UK spent on average US$5,900 in 2015. A full $500 higher than Norway at US$5,400. The USA itself was way behind at US$4,500 per consumer on average, and Australia at US$4,000.

Card transactions in total almost reached 15 billion over the year in 2016, and accounted for over three-quarters of all retail spending. Total card spending in the UK reached ?298 billion, up ?8 billion from the previous year.

Internet spending in the UK showed the largest rise over the last two years. The UK Cards Association confirmed that spending over the internet has leapt by more than a quarter over that time.

Internet spending reached ?154 billion in 2016, an average of ?422 million per day, and registering an increase of 28 per cent from the ?120 billion recorded in 2014.

The number of internet purchases rose by even more. A total of 1.8 billion purchases were made online in 2016 – equal to an average of 150 million per month and an increase of 38% on the 1.3 billion recorded in 2014.

The average size of individual card purchases online has in fact dropped by ?9 since 2014, indicating that many people may be returning to stores for larger purchases.

However, the average purchase over the internet is still running at more than double the average store transaction, with internet purchases at ?85 compared to the average store purchase priced at just ?38.

Travel has particularly seen a move to internet booking, with 54 per cent of all spending on airline tickets made via the internet.

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