Don’t miss out as consumer spending shifts online

Posted on March 27, 2020

 

Two studies are showing that, perhaps unsurprisingly, consumers are spending more money online as the COVID-19 outbreak takes hold, emphasising the need for businesses to have an online presence.

Here in the UK, research from Blacktower Financial Management Group indicates that households have been spending an average of £13 more per week during the pandemic. Some of this has been in physical supermarkets, but notably, online spending has gone up by 25.5%.

Another study reveals similar patterns in the US, where restrictions are currently a little more relaxed in most states than they are here. A survey of over 2,500 American adults by L.E.K. Consulting and Civis reveals that online spending is up by 10%-30%, despite pessimism about the economy with 80%-90% of respondents believing a recession is likely next year.

As sanctions on personal movement increase both in the UK and the US (the latter has today been confirmed to have more coronavirus cases than any other country), these figures are only likely to increase as we become more reliant on home delivery services. This makes it crucial that businesses, particularly retailers, can continue to operate online for as long as restrictions continue.

Yesterday, we discussed how setting up a basic brochure website can make a big difference by giving traditional small brick-and-mortar stores an internet presence. With that structure in place, there’s no limit to how far they can take their online retail services, leaving them well set up for a post-coronavirus future.

The internet will no doubt prove to be a crucial lifeline as the pandemic develops and, while the situation is creating unprecedented challenges for businesses, many might be finding that funds they had put aside for something else have now been freed up. This might be due to cancelled events, unneeded office supplies or delayed plans to recruit staff, so why not invest some of this money into digital marketing and web development?

Whether the idea of a website is new to you, or you have one but want to get more out of it, speak to us at Engage Web for expert advice.

John Murray

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