Research published today (Wednesday) by credit card provider Barclaycard shows that 70% of consumers expect retailers in the food and drink industry to accept payments online.
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Despite the fact that the internet has been around for over ten years, many retailers have not fully developed their internet offer and as a consequence, are losing business to their competitors, it said
The survey, commissioned by Barclaycard Business, asked consumers how they would respond when a retailer does not take payments online. Over two thirds (68%) say they would go to a competitor retailer online and spend their money there instead. Just 16% of those intending to spend online would be happy to go to the high street store and make their purchase. 4% would not make the purchase at all
The research highlights the attitudes of consumers to spending online, and the consequences retailers may face by not offering this service. Over half of UK households (55%) can access the internet from home and with the increased accessibility to broadband internet it is not surprising that online credit card payments have increased five-fold since 1999, to the point that 10% of all credit card spending now takes place online.
“It is clear that food and drink retailers not allowing customers to purchase products from the comfort of their own home are losing out to their competitors,” said Brendan Rogers, head of acquiring at Barclaycard Business. “While the high street is definitely here to stay, online spend has revolutionised the retail sector and given consumers the ability to make payments in additional ways, fitting into their busy lives.”
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