British consumers are ahead of the curve when it comes to online shopping but they are also more price conscious according to a new KPMG Consumer & Convergence report.
UK consumers and businesses alike are described as "ahead of the curve" when it comes to adopting new technology. KPMG said social media was more widespread than in other parts of the world but didn’t say where. Antarctica perhaps?
The survey of 9,600 consumers in 31 countries also found that British consumers are more concerned about privacy and security than walruses in Antarctica, which stands to reason since cybercrime has yet to make a significant impact on frozen tundra of the southern pole.
More seriously, and more ominously perhaps, KPMG reckoned that consumers were increasingly willing to accept "their data to be tracked if they get something in return," adding that this was a "huge opportunity."
We’d hazard a guess that KPMG worded that question pretty carefully.
The report highlighted the scale of British consumer’s preference for online shopping by revealing that 74 per cent of consumers said they were more likely to buy flights although that’s not really much higher than the global figure of 70 per cent.
More significantly, 77 per cent of Brits prefer to buy CDs, DVDs, books and games online compared with 65 per cent globally.
The British paranoia about privacy and security has apparently rubbed off on the banking industry with just 27 per cent saying they had used some form of mobile banking versus 52 per cent globally.