- 91% of the British public admit to making impulse purchases every month
- Some of the strangest last-minute buys include £120 worth of cheese and a furry rabbit
- Shoppers blame late night browsing and irresistible deals for their habits
The British economy is benefitting from Brits’ lack of will power when it comes to piling up their baskets and straying from their shopping list, new research reveals.
From adding to their wardrobe to filling up their fridge, the average person spends £47.84 on spontaneous buys every single month meaning as a nation we’re spending up to £37 billion on these types of purchases over the course of a year.
A study conducted by delivery management company, Whistl, has delved into the impulse buying habits of the British public and revealed that a huge 91% of the nation make impulse purchases every month.
Top five items that are bought on impulse each month include:
- Clothes (56%)
- Food and drink (49%)
- Home accessories (34%)
- Shoes (27%)
- Jewellery (22%)
However, some shoppers are making more unusual purchases, as some of the weirdest impulse buys revealed in the research included, a furry rabbit, £120 worth of cheese, a castle for a pet cat, and 100 condoms.
Looking at where Brits are going to splash their cash, supermarket trips seem to be their Achilles heel, as over half (59%) admitted that this is where they are adding the most extras to their baskets. Online retailers including Amazon and eBay were named as the next best places to go to indulge.
Insomnia and a pint appear to be the backbone of the British retail economy, with over a third (39%) of Brits admitting late night browsing online leads them to these types of purchases and 24% said having a drink got them pressing buy now. Others claimed a special offer makes them more likely to buy on impulse.
When it comes to the delivery time, some impulse buyers aren’t as eager as they first appear with over a quarter (28%) of those surveyed saying they are happy to wait a week for their impulse buys. However, a third are not so patient and are only willing to wait two to three days to receive their purchases.
Melanie Darvall, Director of Marketing & Communications at Whistl said: “Today, more and more Brits are used to being able to get hold of anything they want or need at the touch of a button. From adding an extra bottle of wine to your basket at the supermarket to splashing out on a new pair of heels that are 30% off ‘just because’. These types of purchases can soon add up but it’s great to see so many shoppers being savvy when it comes to getting the best prices and quickest delivery.
“Impulse buying has always played a key role in the retail mix and with the rise of online shopping, retailers must offer a seamless experience with easy navigation, fast payment and a choice of delivery options.”
To find out more about the research please visit: http://www.whistl.co.uk/news/brits-spend-over-3-billion-on-impulse-buys-every-month/
Calabrio charts record year-on-year UK growth as demand for cloud technology soars during lockdown
Digital transformation acceleration drives cloud contact centre adoption of Calabrio workforce engagement management technology
Calabrio, the workforce engagement management (WEM) company, has seen a strong growth trajectory in the UK during the last 12 months, despite the global pandemic. Achieving 30% year-on-year sales growth, Calabrio International has welcomed more than 150 new customers, with the UK adding a third of those from a wide range of industries including many online challenger businesses. In addition, Calabrio has made strategic new appointments to build its customer support network.
Kris McKenzie, SVP, Sales, International at Calabrio commented, “Our focus on cloud-first solutions has resonated well with our customers’ need to accelerate their digital transformation and move their contact centres to the cloud in order to maintain business continuity. At a time of uncertainty when consumers need robust support more than ever before, we are witnessing first-hand the cloud transformation of customer services by organisations looking to deliver the next level in customer experience. Modern businesses and contact centres using Calabrio are able to provide exceptional service to their customers through disrupted times.
“Coupled with businesses operating solely online, we have also seen strong demand across the board from more traditional sectors such as finance, insurance, retail, consumer goods, local and central government departments. These organisations require an innovative yet reliable solution to help them manage unprecedented levels in demand.”
When Calabrio surveyed its customers recently[i] 72% of organisations stated they are either moving to the cloud, are already there or plan to increase their investment in cloud technology in 2021. In order to support forward-thinking organisations looking to optimise their investment in cloud contact centre solutions, Calabrio has made two significant appointments.
Niall Gallacher has joined Calabrio as Business Intelligence (BI) strategic consultant and will be instrumental in the design of services that drive value from data and analytics, helping Calabrio customers to solve complex business problems. Before joining Calabrio, Niall spent 6 years with Qlik as Industry Solutions Director. He has 25 years of experience in data, analytics and BI, 15 of which have been with contact centres for leading companies in telecommunications, energy and high-tech industries.
Graeme Gabriel joins as a presales engineer, supporting Calabrio’s workforce engagement suite. He will work with customers to ensure that they achieve maximum benefit from their use of Calabrio solutions, no matter the remote, on-site or hybrid environment. Graeme has international experience encompassing telephony, contact centre, WFM, analytics and customer experience (CX) across a range of sectors, and has held consultancy, advocacy and planning positions at companies including Injixo, Vluent, QPC and AVIOS.
McKenzie concluded, “We welcome both Niall and Graeme to Calabrio, during what has been an incredible year of growth for Calabrio as we supported our customers through these challenging times. This is an exciting and dynamic time for Calabrio as we continue to deliver the value of our all-in-one cloud contact centre suite, including call recording, quality management (QM), WFM, speech analytics and business intelligence suitable for organisations of all shapes and sizes.”
[i] TechValidate survey of 192 users of Calabrio. Published 29 December 2020.
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Thomson Reuters fourth-quarter revenue, adjusted earnings rise
NEW YORK (Reuters) – Thomson Reuters Corp reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company.
The news and information company, which owns Reuters News, said revenues rose 2% to $1.62 billion, while its operating profit jumped more than 300% to $956 million, reflecting the sale of an investment, a gain from an amendment to pension plan and lower costs.
Its three main divisions, Legal Professionals, Tax & Accounting Professionals and Corporates, all showed higher organic quarterly sales and adjusted profit.
It was not immediately clear if adjusted earnings per share of 54 cents were directly comparable to the 46 cents expected.
Thomson Reuters’ markets are healthy and evolving, making this a good time to transition the company from a content provider to a “content-driven technology company,” Chief Executive Steve Hasker said in a statement.
Workplaces have been transformed by the COVID-19 pandemic and artificial intelligence has a larger role in professional markets, he said.
(Writing by Nick Zieminski in New York, editing by Louise Heavens and Jane Merriman)
Tesla shares set to skid into the red for the year
LONDON (Reuters) – Shares in Tesla were set to plunge into the red for the year on Tuesday, hit by a broad selloff of high-flying technology stocks and the fall of bitcoin, in which the electric carmaker recently invested $1.5 billion.
By 1029 GMT, Tesla was down over 8% in U.S. premarket deals after a similar drop during the previous session. The firm led by Elon Musk has had a stellar ride since 2020, which it began at about $85 per share, before reaching the $900 mark on January 25.
Currently trading at about $657 in pre market transactions, the stock has lost 27% from its peak, which is above the 20% level which technically defines a bear market.
Bitcoin has also swung into a bear market, falling from a peak of $58,354 on February 21 to a low of $45,000 earlier on Tuesday.
A Germany-based trader said he was “taking chips off the table” on Tesla as its 1.5 billion investment in the cryptocurrency could “backfire now”.
Analysts at Barclays noted that there has been a drop of conversations about the electric car makers in the Reddit’s WallStreetBets forum, which could explain some of the loss of appetite for the stock.
“With only 2-3 total submissions on each of the past several days, we remain below the trend in attention that has come along with big returns jumps in the past”, the analysts said in note.
Other analysts have also cautioned against investing in the stock which remains one of the most expensive on the S&P 500 index at 163 times its 12 month forward earnings.
Graphic: Tesla shares selloff after multi-fold gains
(Reporting by Julien Ponthus and Thyagaraju Adinarayan)
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