UK Businesses: Social Selling to Double in 6 Months
The number of UK businesses selling via social media sites and apps is predicted to double in the next six months – new research from PayPal reveals.
British shoppers will be able to shop on the social media channels of a further 600,000 UK businesses as the popularity of mobile shopping expands to new sites and apps. This is in addition to the 24% of British businesses already selling via these platforms.
PayPal’s annual Commerce Index, which surveys the latest trends in mobile commerce across the globe, found an additional one in five UK businesses (22%) plan to sell via social in the future. Currently, 8.4 million British consumers shop via social media, with Facebook, Instagram, and Snapchat being the most popular channels. A fifth of those already purchasing through social do so weekly, with individual social spending averaging GBP 71 monthly.
While the research reveals positive intent amongst merchants, it also reveals the proportion of UK businesses selling through social media (24%) lags significantly behind the global average of 35%.
The research was conducted by Ipsos on behalf of PayPal. Ipsos interviewed consumers (aged 18-74) who owned or used a smartphone and business influencers or decision makers who sell or take payments online to consumers (and businesses) in each of 11 countries (UK, France, Germany, Italy, Spain, Australia, India, Japan, US, Mexico, and Brazil).
Of the 11 countries surveyed, the UK was found to have the greatest consumer concerns about security when purchasing on mobile, with key barriers including a fear of having financial information linked to social media accounts.
