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October 14, 2020

VISA: Brits take to social media shopping

By Mohamed Dabo

A new consumer research commissioned by Visa has revealed a surge in social media shopping, with almost a fifth (17%) of Britons using social apps to shop and one in ten (11%) making a purchase this way since lockdown began in March.

Coined ‘Swipe Up Shopping’, the research revealed social media-fuelled purchases accounted for one in four (24%) online purchases in the past six months.

Clothing and accessories are the most popular Swipe Up Shopping purchases (37%), followed by homeware (29%) and electronics (20%).

The survey of 2,000 UK consumers conducted by Opinium on behalf of Visa, revealed Swipe Up Shopping is likely to continue growing in popularity with over a third (36%) surveyed planning to continue purchasing this way in the future.

Supporting independent businesses is also a key driver for Swipe Up Shoppers, with one in ten (11%) Brits having made a purchase from an independent company and 16% saying that social media enables them to better support small businesses.

Convenience is key

Being able to buy things with just a swipe and a click is key, with 35% of Swipe Up Shoppers surveyed saying they enjoy the convenience and over a quarter (26%) love the speed.

Swipe Up Smart

Although Swipe Up Shoppers love quick and convenient purchases, many of those involved in the survey admit to:

  1. Not always checking third party reviews of the website (57%)
  2. Not always checking refund and exchange policies before purchasing (54%)
  3. Buying whilst watching TV (27%)
  4. Buying something to make themselves feel better (13%)
  5. Purchasing something after midnight (13%)

Over half (58%) who engaged in this way of shopping said their purchases haven’t lived up to expectations and a further 38% are still chasing refunds or trying to return items.

Just one in five (20%) say they have received a full refund via the method they paid, yet 88% claim they still remain out of pocket for at least one of their purchases.

Whilst shopping on social media is quick and convenient, shoppers should be mindful of buying safely. The latest data from UK Finance reveals that the number of card-not-present fraud cases is on the rise.

Scammers exploiting Covid-19 increasingly move fraud online, and social media platforms are high on hit lists.

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