Econsultancy has recently updated their Internet Statistics Compendium and released some very interesting e-commerce figures and trends.

Here’s a round up of the UK market trends:

UK online shopping trends

  • 4pm, Wednesday is peak-time for workplace shopping.‘ The largest shopping rush comes when employees are celebrating the ‘hump’ of the week seeing a 75% increase of shopping at 4pm on Wednesday
  • Over 42% of Brits are now shopping online at least once per week and the average shopper is now spending £71 per month on online goods

Christmas online retail predications

  • UK shoppers spent a total of £4.8bn online in September, up 24% on 2009, according to IMRG / Capgemini
  • IMRG predicts that £6.4bn will be spent online in December 2010, up from £5.5bn last year. Total online spending for 2010 is predicted to reach £57,8bn, compared with £49.8bn in 2009

Conversion rates

  • 36% of companies are unhappy with their conversion rates this year, compared with 39% in 2009, according to Econsultancy’s Conversion Report
  • The report found that companies whose conversion rates had improved over the last 12 months carried out on average three times more website tests than those whose conversion had not improved
  • There has been a significant increase in the use of A/B testing, with almost half of companies surveyed (44%) now using this method. As was the case last year, customer journey analysis (54%) and copy optimisation (53%) are still the most commonly used approaches for improving conversion

You can read the full article on Econsultancy’s site here.