Banks break into £2bn Net market

Banking emerged as this summer’s “breakthrough” e-commerce category, according to the latest study into UK Internet use by research company BMRB International.

More than 1.3 million consumers – ten per cent of the UK target market – are using the Net to access their bank accounts, says the survey, conducted in August.

This is more than double the number of Net bankers registered in the last wave of research for BMRB’s Internet Monitor in April.

According to Paul Milsom, author of Internet Monitor, the relative popularity of other e-commerce categories has remained fairly static over the same period.

But the growing number of people going online, combined with a greater willingness to purchase, has provided a major boost to the overall value of online shopping.

The survey values the market at &£2bn, with Milsom predicting another major leap in value during the second half of this year.

Twenty-five per cent of Net users – 2.5 million consumers – reported they had bought goods online during the past six months – a 30 per cent increase on April’s 1.9 million.

“More people are getting online, and a greater proportion of these are making purchases over the Web because of a softening attitude towards buying online and increasing trust among consumers in making credit card transactions online,” says Milsom.

But the growth of online “window shopping” is still constrained by the high cost of telephone charges, despite the growth in free Internet service providers, he adds.

New Media is edited by Michael Kavanagh, michael_kavanagh@compuserve.com

Recommended

NI digital group takes CurrantBun upmarket

Marketing Week

News International Digital Publishing, the Internet arm of Rupert Murdoch’s newspaper empire, is revamping its Internet Service Provider CurrantBun.com to appeal to a more upmarket audience. Renamed Bun.com, the new look ISP will be available on CD-Rom through Comet and Asda stores next Monday. It has been revamped to attract more upmarket customers by offering […]

Interfocus chiefs quit for Haygarth start-up

Marketing Week

Three top executives at Interfocus, the Lowe-owned sales promotion and direct marketing agency, resigned last Friday to launch their own company. Deputy managing director Frazer Gibney, joint creative director Drew Saunders and account director Tim Doust are in negotiations with Interpublic managing director Matthew Hooper over the termination of their contracts. They are likely to […]

Beginning of end for millennium?

Marketing Week

So, more than 45 per cent of UK consumers are planning to buy their millennium groceries in December (Factfile, “Prepare to get fresh for Y2K, MW September 30)? No great shock there then. What is surprising is that nearly 40 per cent of consumers have already started to buy their groceries – during July, August […]

Comments

    Leave a comment