Over two-thirds of retailers may be losing significant business to their competitors by not trading online, new research shows.
A new consumer survey from Barclaycard Business found that consumers increasingly prefer to do their shopping from the comfort of their own home.
Just 16% of consumers said they would be willing to go to the high street store to make their purchase if the retailer does not take payments online.
With 68% of retailers across Britain still without an online trading presence, many are unknowingly losing out to their competitors, to whom these customers turn when they cannot make their purchase.
Recent figures show that 10% of all credit card spending now takes place online, a huge volume of sales of which many firms are failing to take their share.
“It is clear that 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 spending has revolutionised the retail sector and given time-poor consumers the ability to make payments in additional ways, fitting into their busy lives.”
Results from the survey, however, show that consumers will not buy blindly online. The rise in reported fraud cases have many worried their credit card details falling into the wrong hands.
The survey showed that most consumers’ fears can be alleviated by installing anti-fraud programmes or placing a simple logo on the payment page ensuring retailers of their safety.
Some 84% said such logos give them assurance.
