Waseem Saddique Marketing Services delves into newly published data and outlines the implications for global business and marketing strategies.
- 74.1% of all electronics are bought online
- 74.0% of UK consumers purchase groceries online
- 74.0% of all music and videos are purchased online
- 67.8% of all office supplies are bought online
- 65.9% of all clothing sales are bought online
- 65.8% of all furniture sales are bought online
- 61.4% of all games and toys are bought online
Waseem Saddique comments: “Internet business is big however, some enterprises have failed to tap into the potential profits that could be made as a result of failing to capitalise on consumer habits.”
Based on the data, compiled by BrainSINS, the 74.1% of electronics purchased online equates to £5.5 billion. This figure is in stark contrast to the £1.8 billion spent on electronic goods in store.
The release of the data has been hailed by business leaders as they are able to absorb the information and refine marketing strategies making them more ‘target specific’. A number of corporations have also stressed that the information will ‘go a long way’ to helping them improve their social media efforts on social networking sites such as Twitter and Facebook.
With dwindling numbers on the UK’s High Streets, a number of businesses that used to rely on footfall and passing trade have had to adapt and embrace the online revolution. Recent research, conducted by Hubspot.com, reveals that 84% of High Street retailers now also have an online platform, with 75% of those businesses recording sales increases since targeting the online consumer.
Waseem Saddique comments: “2013 will prove to be a pivotal year in terms of the UK economy, that’s why it’s important for businesses to make use of the essential data that is provided to them. This latest research shows that there is still room for growth and internet marketing experts predict current percentages to increase to figures of 80% by 2014.”
BrainSINS researchers stated that the release of this information, at this time, was done as Christmas 2013 approaches. In a time when the UK needs to experience a period of economic growth, this information allows business leaders to devise effective strategies to market themselves and their products/services in order to increase consumer spend.
Now businesses know where the majority of money is being spent by consumers online it puts corporations in a prime position to capitalise on that information.
Waseem Saddique states: “Businesses have always relied on such information to succeed, in an age of analytics that information is now readily and consistently available. The challenge now is how companies make use of the information to maximise its full potential.”