According to new PayPal research, social media platforms are becoming increasingly important to UK businesses. Its annual Commerce Index which features the views of more than 26,000 consumers and businesses around the world, finds that the number of UK businesses selling via social media sites and apps is expected to double over the next six months, adding an extra 600,000 retailers to the social selling scene in the UK.
- Social buying is popular – 8.4 million Brits currently purchase via social media.
- The UK continues to lag behind the rest of the world in social commerce. Currently, just under a quarter (24%) of British businesses sell via social platforms (the global average is 35%).
- Out of the 11 countries surveyed, UK consumers have the greatest concerns about mobile purchase security, particularly when it comes to having their financial information linked to their social media accounts.