- Virgin Media O2 Business today publishes its Q2 Movers Index, revealing Brits are willing to spend more to shop local, with retailers weathering the wettest summer on record
- The Index also highlights the value of tech for in-store shopping experiences as quality Wi-Fi and good mobile connectivity lure Brits to stores
- Using aggregated and anonymised mobile data from O2 Motion combined with polling of businesses and consumers, the quarterly Movers Index highlights UK movement trends and insights
London, 29 July 2024: Virgin Media O2 Business’ latest Movers Index reveals the majority of Brits (63%) would rather shop in-person, with retailers embracing post-work Friday shopping and payday splurges to drive a summer boost.
The quarterly Movers Index, now in its second year, is based on combining anonymised and aggregated UK movement data from O2 Motion* with national polling findings to reveal key behavioural trends. The combined data paints an accurate picture of movement patterns and the trends influencing them.
Fair weather shoppers: Brits’ local spending surge
Mobile data shows a marked decrease in shopping trips compared to this time last year, as shopping centre trips have dropped by 12% and high street shopping fell by 6%. This could be a result of only 15% of shoppers being willing to hit the high streets in bad weather. However, retailers are deploying several tactics to keep shoppers spending and combat the Met Office’s prediction of the ‘wettest summer in over a hundred years’. These include changes to their operations (50%), putting on discounts (45%) and hosting special events (47%).
With most people preferring in-store shopping, more than one in four (26%) prefer large shopping centres, followed by local high streets (19%) and retail parks (18%). Brits are also willing to spend an average of 29% more in a local store compared to a large retailer like Amazon.
Retailers cash in on Friday evening commuter crowds
In-office working has continued to rise over the past three months as 89% of workers commute at least once per week, confirmed by mobile data exposing an increase in commuting at the start of summer. When Brits are in the office, Fridays (36%) are the most common day for post-work shopping, with 38% of Gen Z and Millennial workers spending more in shops near their workplace than they did three months ago. O2 Motion insights show 18-24 year-olds had the biggest increase in office trips in June, rising 12%. 40% of Brits also spend more money near their office on payday, with the average shopper spending £28 more.
The increase in pay-day-spending equates to an additional £822million* boost to the UK economy. With retailers looking to capture additional spend, more than one in four workers (28%) noticed mid-week offers aimed at attracting Brits to shop. Respondents spotted lunch deals (50%), coffee subscriptions (36%) and happy hours (32%).
From selfies to sales: Tech enhancing in-store experience
With more Brits visiting stores, two thirds (66%) say tech is important to their in-person shopping experience, rising to 81% of Londoners. High-speed Wi-Fi (23%) and good mobile connectivity (20%) are cited as two technologies that would encourage someone to shop with a retailer.
Brits also cited using enhanced connectivity to compare prices (45%), check product reviews (30%) and access loyalty cards (25%). Meanwhile, half (49%) of Gen Z shoppers have shared a selfie from a store changing room to get a second opinion, leading over half (57%) to then make a purchase.
Jo Bertram, Managing Director of Virgin Media O2 Business, said: “Our latest Virgin Media O2 Business Movers Index shows Brits increasingly choosing to shop in-person and spend more to support local business. This coincides with rising office attendance, leading to a boost in lunch and post-work spending in towns and cities.
“To capitalise on this resurgence of in-person shopping, and weather the summer storms, retailers should consider how their in-store experience can be enhanced. High-speed Wi-Fi has become a critical component, enabling seamless integration between online and offline shopping journeys.
“Our insights and technology have been helping businesses adapt to changing consumer habits for years, ensuring they’re well-equipped to meet the demands of today’s tech-savvy shoppers.”
Accurate mobile data provides retailers with a rich picture of customer movement to help tailor the in-store experience to them. As retailers look to respond to these trends and support their customers, Virgin Media O2 Business is ready to help.
From retailers to public sector organisations, Virgin Media O2 Business’ team of data experts support companies of all sizes to understand these trends and use them to make strategic decisions. The Virgin Media O2 Business Movers Index is a publicly available quarterly report that explores the latest UK movement insights from each quarter. Find out more and access the report here: Virgin Media O2 Business website.
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*Data insights from O2 Motion never allow identification or mapping of individuals and operate within strict privacy guidelines. O2 Motion does not capture international visitors in the UK or children.
Notes to Editor:
- O2 Motion is a service that uses anonymised and aggregated data created by the mobile phone network to offer insight into movement trends across the UK. As mobile devices connect to different masts, they create data footprints which O2 can then anonymise, aggregate, and extrapolate in order to gain a picture of how people are travelling, when they make journeys and which areas they visit.
- O2 Motion is based on connection data between a device and the phone mast only. It does not collect GPS data and the service isn’t used for ‘contact tracing’.
The post Retailers weather summer storms as Brits prefer to shop in-person, says latest Virgin Media O2 Business Movers Index appeared first on Virgin Media O2.
Source: O2 Blog
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