Online card spending soars nearly 30 percent in two years

25 April 2017 - Janet Bird

online card transaction

Online card spending has soared by almost 30 percent over the last two years, new data has revealed.

Research by the UK Cards Association showed internet retail transactions had gone up from £120 billion in 2014 to £154 billion in 2016 - a rise of 28 percent.

This figure, which works out at £422 million a day on average, shows the UK spends more per household online - $5,900 (£4,607) in 2015 - than any other country. The next biggest spending nation is Norway at $5,400 per household, followed by the United States ($4,500) and Australia ($4,000).

The Association found 26 percent of total card spending was online last year, up from 22 percent in 2015. That equates to 1.8 billion purchases made online, an average of 150 million a month.

The research showed almost 40 percent of travel bookings are now made via the internet, along with 23 percent of all clothing purchases, 67 percent of concert ticket purchases and 61 percent of theatre, cinema and dance seat purchases.

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