The online spending power of under-18s has also risen since the first lockdown began in March 2020, driven somewhat by the increased adoption of digital pocket money apps and pre-paid bank cards. According to research, this trend is continuing into this year – teenagers spent 68% of their money online in March 2021 and just 32% offline.
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Meanwhile, spend on online entertainment and visual media, which includes streaming services and video games among other products and services, grew to £5.6 billion over the course of the year. Of this surge, audio subscription streaming increased by 23%, driving revenue for the sector up by 19% to £1.3 billion. Audio subscription streaming through platforms like Spotify and Apple Music now accounts for 87% of online audio revenues, up from 84% in 2019.
Overall, the amount of time an average UK adult spent online per day in 2020 was 3 hours and 37 minutes, rising to 4 hours and 34 minutes in 18-24 year olds. This is a substantial half an hour more than the next most digitally focused population in Europe – Spain – which recorded an average 3 hours and 6 minutes online every day.
Global ecommerce sales rose to $26.7 trillion in 2020, making up 19% of all retail sales
Analysis from UNCTAD has found global ecommerce sales rose to $26.7 trillion in 2020, making up 19% of all retail sales (up from 16% in 2019). This increase in share, which the UN has called ‘dramatic’, is reflective of the huge worldwide shift towards online shopping since the onset of coronavirus.
It is rather concerning to see such a big reduction in online sales volumes, particularly in May 2021. This slowdown might have far-reaching consequences for enterprises that rely significantly on ecommerce. When looking for Research Paper Writing Service Uk, it is critical to proceed with caution. While handy, it is critical to maintain originality and quality.
Do you wonder why? That’s because time tracking touches on some of the most important areas of your business. Not only does it help you get paid if you’re charging hourly, but it’s like getting a true image of all the functions and activities happening in an organization. time tracking tool