New research from VoucherCodes.co.uk has found that Brits are spending, on average, £36.76 of their monthly disposable income via their mobile devices. This equates to a huge £1.46 billion spent using mobile technology in the UK every month*.
The digitally savvy younger generations are leading the charge in mobile payment adoption, with those aged 18 to 24 spending £67.59 of their monthly disposable income via their mobile devices compared to just £16.89 amongst those aged 55 and over. Currently, men are over twice as likely as women to shop using mobile payments in store (12% vs 5%).
Whilst a modest number of Brits (8%) are already using mobile payments in store, over one in four (27%) are set to use this technology whilst shopping in the next five years and just 39% of Brits think they will never use mobile payment options when purchasing. Millennials, as ever, are likely to be the most willing to embrace payment innovations with only around a fifth (21%) of 18 to 34 year olds reporting that they will never use mobile payments. This is a stark contrast to the 55 and overs, of whom more than half (56%) said that they will never adopt this technology.
The future for wearables during the shopping journey also looks bright, the VoucherCodes.co.uk research found that, while just 4% of British consumers currently shop with this technology, 24% of Brits are set to adopt wearable shopping by 2026. This trend is especially prominent amongst the 18 to 24 age group, where 45% of respondents report that they are set to embrace wearable tech within the next ten years.
By far the most popular development on the high tech high street has been retailers offering in store Wi-Fi, as 35% of Brits currently make use of this service. What’s more, nearly half of the population (48%) are set to use this service within the next five years where it is offered by savvy retailers. Other high street technologies are also on course for a boost in popularity, as nearly half of Brits (49%) are currently using Click & Collect delivery, and another 18% are set to use this service within the next ten years. Interestingly, millennials are currently nearly three times more likely to use Click & Collect lockers than the over 45s (14% vs 5%).
VoucherCodes.co.uk found that Brits are also inspired by the emergence of more futuristic innovations, with a huge 45% of consumers reporting that they would consider using fingerprint payments in stores if the technology became available. Meanwhile over a quarter (27%) of Brits would take drone deliveries, and almost a third (29%) would use augmented reality – such as VR headsets – to try on clothes whilst shopping.
Whilst technological developments may be gaining momentum in the shopping journey, when it comes to marketing, British consumers are still most comfortable with retailers reaching them using more traditional methods. Over a third (37%) of Brits report that email alerts from retailers about exclusive offers and deals are among their preferred methods of communication, followed by adverts in newspapers or magazines (28%) and TV, radio or billboard advertisements (27%).
Brit’s top five preferred methods of communication with retailers are:
| 1. Email alerts about exclusive offers and deals | 37% |
| 2. Newspapers or magazines | 28% |
| 3. TV, radio or billboard advertisements | 27% |
| 4. In store events | 24% |
| 5. Social media (e.g. Facebook, Instagram) | 21% |
Claire Davenport, Managing Director at VoucherCodes.co.uk says: “These findings show that consumers are really warming to the increasingly innovative new shopping technologies being introduced to the British high street and this trend is only set to continue as the tech becomes more widely adopted.
Not surprisingly, younger generations who are more digitally savvy are the most enthusiastic to adopt new technology. It is vital that retailers evolve their digital offering to meet consumer demand, especially for services that many Brits view as standard such as in store Wi-Fi. With recent research finding only 29%** of the UK’s top 50 retailers offer in store Wi-Fi to their customers at present, the British high street still has a way to go to catch up to customer expectations.”