One in Six UK Retailers have Switched to Become ‘Online-Only’ in the Last Year
Bricks and mortar stores could soon be a thing of the past as companies report that it’s more important to offer an online and delivery service
A third (33%) of UK firms believe it’s more important to offer an online and delivery service than have a physical store presence, with a sixth of retailers opting to offer an online-only service in the last 12 months, research from Barclaycard reveals.
In response to consumer demand, over a third of businesses (39%) have launched a new website in the last year while 37% have taken on more delivery staff, and 25% have introduced a new ordering and payments app.
23% of employers have also increased staff wages as a result of having to get them to work irregular hours; 22% have hired more freelance staff.
The research indicated that businesses are reacting to consumer behaviour, reporting that customers expect orders to be delivered (32%) and appointments to be available (33%) quicker than they did 12 months ago.
Furthermore, the survey indicated that85% of people now shop online with more consumers expecting to receive an ‘on-demand’ service – 17% of shoppers said they wanted online purchases and services to be available instantly.
Philip McHugh, CEO of Barclaycard business solutions, commented:
“Today’s consumers are not only savvy in shopping for the best price but are also opting for providers who can deliver goods and services where and when they want them. Delivery services are going through a period of rapid innovation, from those who promise to provide almost anything to your door in under an hour, to those who are set to trial delivery by drone in the near future.
“The challenge for businesses now is to keep pace with rising expectations while providing an offering which also compliments the bottom line.”