Inflation in the UK is reaching a new high: it’s the G7 country with the highest inflation, leading to a cost-of-living crisis of unparalleled proportions. Over the past 12 months, UK inflation rate has exceeded 10% – that’s more than double its french counterpart across the pond.
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Rising prices have had a significant impact on British shoppers’ purchasing habits: it has forced them to buy less. Since January 2022, the number of products per order has only fallen, decreasing from 3.2 products per order to 2.8 in the space of 18 months.
As a result of the cost-of-living crisis, E-shoppers across the Channel have been unable to maintain their old consumption habits.
Their average basket increased steadily in 2022, and is now finally falling, from €47.7 at the end of 2022 to €41.7 at the end of June 2023.
Another factor worth noting is the significant growth in second-hand purchases in UK E-commerce.
While this trend can be attributed to environmental awareness and the desire to participate in a circular economy, there is no doubt that consumers are primarily looking to save money by turning to second-hand goods.
More and more brands and retailers are integrating second-hand into their business models – making refurbished and second-hand products more accessible to a wider audience.
The percentage of second-hand purchases by value will almost double between 2022 and 2023, rising from 2.8% of online purchases to 5.5%.
Within the clothing category, the weight of second-hand in online clothing purchases has doubled. It rose from 4.4% in 2022 to 8.6% in the first half of 2023.
During this appointment, we will present our methodology and various use cases for different industries based on the utilization of our 10,000 users.
Based on the transactions of our panel of +5M e-shoppers in the world.
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During this appointment, we will present our methodology and various use cases for different industries based on the utilization of our 10,000 users.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry, when an unknown printer took a galley of type to make a type specimen book.
Lorem Ipsum is simply dummy text of the printing and typesetting industry.
