UK firms selling on social to double in next six months

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Photo credit: PayPal UK
Photo credit: PayPal UK

New research from PayPal suggests that the number of UK businesses selling on social media sites and apps is set to double over the next six months. This comes with the news that a a further 600,000 UK businesses will offer shopping on social media channels as the popularity of mobile shopping expands to new sites and apps. The research states that 24% of UK businesses are already selling via these platforms.

 

PayPal’s annual Commerce Index, which looks at the latest trends in global mobile commerce, discovered that an additional one in five British businesses plans to sell via social channels in the future.

 

At the present time, 8.4m British consumers shop via social media, with Facebook, Instagram and Snapchat the most popular channels. A fifth of this number shop weekly on social media, with the average monthly spend via social media being £71.

 

The research shows that social media selling in the UK (24% of businesses) lags behind the global average of 35%, and that of the 11 countries surveyed, UK consumers expressed the most concern about security when purchasing on mobile.

 

Nicola Longfield, senior director of small and medium businesses at PayPal UK, said: “As Brits continue to lead increasingly busy lives relying on their smartphones more than ever to help them make the most of their time, it’s important that businesses are in a position to cater for this.

 

“Our data reveals a substantial rise in the number of businesses that plan to sell through social media over the coming six months, capturing a consumer’s attention in the very place they go to for inspiration.

 

“However, the UK falls some way behind the global average for selling via social, something which must be addressed if businesses are to compete and make the most of their selling potential. Security remains key for consumers shopping on social and companies of all sizes must address these fears, offering mobile-friendly payment options like PayPal to help instil trust from shoppers and ensure purchases are made securely.”

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