Voyado, a Nordics’ customer experience platform, has published the findings of its 2021 Shopping Index, highlighting that consumers across Europe are spending more, but buying less when compared to 2020.
The Index, based on 16 million purchase occasions, shows that in the first three months of 2021, consumers spent an average of 28 per cent more per transaction, but purchased 15 per cent fewer items per transaction when compared to the same period in 2020.
Women were responsible for the larger portion of the increase in average transaction price, spending an average of 38 per cent more than they did in 2020, while men accounted for an increase of 17 per cent. The frequency of shopping also increased slightly in 2021, from an average of 1.82 to 1.88 purchase occasions, dominated unsurprisingly by online shopping.
E-commerce leads the way
Online, the average shopper’s spend per receipt jumped from £86 in 2020 to £128 in 2021, a 49 per cent increase. Every age group, among both men and women, is spending more online in 2021. The highest increases were in the 18-25 and 26-35 groups, where consumers spent 55 per cent more in 2021 than the year before.
In addition, the frequency of e-commerce purchases increased by 35 per cent in 2021, reinforcing the importance of being online. In terms of gender habits, women shop online 74 per cent more frequently than men. There is also a distinct age difference, with the 25-35-year-old bracket shopping online at around double the rate of people aged 65 or older.
Across Europe, in-store spending also increased, although less significantly. The average per-receipt spend on store-bought items increased from £54 to £65, with women increasing their spending by 28 per cent compared with a 9 per cent increase among men. The most significant additional spending came from women aged 18-25, who spent an average of 43 per cent more in-store than they did in 2020.
Johan Bäckarlin, CEO of Voyado said: “The pandemic has upended the way we shop – and in ways more than just a simple shift to online. Our research shows that while people are shopping more and spending more, they are purchasing fewer items. There are likely several factors behind this trend: customers have become increasingly value-conscious, they are interested in minimising waste and maximising sustainability, and consumers may also have more disposable income due to global travel restrictions. Similarly, many could be treating themselves to a few more expensive items as a well-deserved treat after an incredibly challenging year.”