Retailers: Brace Yourselves for Generation Consumer!

September 10, 2015

By: Magento Partners,
Author Title: 
Tryzens

Consumer expectations are increasing and confidence in online experience is driving growth in online shopping, where people now expect to access goods how, when, and where they want; when international boundaries are more about culture and tax than trade restrictions, and the content of "global" becomes the new norm for sourcing the right product at the right price. Tryzens explored the nuances of consumer purchasing habits online—delving into the choices, preferences and behaviours of 1,000 UK consumers based on gender, income and region. The first part of the research—UK Online Shopping Consumer Preferences—is now published and available online.

The report has thrown up some interesting findings about modern consumers. For instance, the average UK online consumer spends around £559 per month online—adding up to around £6,000 per year. However, men are actually spending more than women online on average, at £686 per month versus £475.

The research also found some surprising facts about how little the amount that we earn affects what we buy online. When looking at the level of spend online by income, Tryzens found that lower earners (those on £10-15,000) are spending up to 40 percent of gross income online, which reduces to around 14 percent in the £60-100,000 income group.

Commenting on the findings, Tryzens’ CEO, Andy Burton, said: “The UK is a clear leader in the field of enabling transition from traditional in-store and catalogue based sales to online shopping. This has been fuelled by a strong economy, a large population in a relatively small geographic area, and a renowned capability for innovation and invention.”

“We are clearly working in a time of dynamic transition to a new level of convenience for consumers. Welcome to Generation Consumer!”

Download a copy of the research results at: http://tryzens.com/expertresearch

Tryzens, the retail systems integrator and managed service provider, prides itself on its knowledge of the eCommerce industry and are always on the lookout to deepen this expertise. That’s why they’re thrilled to begin to share their findings from a recent study into the consumer marketplace and consumer preferences.