Almost two thirds of British consumers plan to do all their Christmas shopping online this year, despite the reopening of high streets and shopping centres.
The Generation Pay research revealed that 60 per cent of respondents will rely on ecommerce platforms for the whole of the festive season. Over a quarter (26 percent) prefer to do their Christmas shopping via social media.
The research also revealed that Gen Z shoppers are most attracted to the convenience of online shopping, with more than two thirds preferring to shop digitally (68 per cent).
Some 70 per cent of millennials (and just 46 per cent of boomers) also cited a range of payment methods as a key preference when shopping.
Nearly a third (28 per cent) stated that they plan to use Buy-Now Pay-Later (BNPL) to make their online festive purchases this year, rising to 43 percent for millennials.
The research also showed that alternative payment methods could help to reduce returns.
Almost one in four (24 per cent) purchases are returned during the Christmas shopping season – but this drops to almost 15 per cent for items bought through BNPL.
“The pandemic is having a lasting impact on UK consumer shopping preferences,” said Maria Prados, head of merchant retail growth at FIS.
“To capitalise on the festive period, retailers must respond to customers’ changing demands by ensuring they are adopting the necessary technology which will give consumers more choice at the checkout.”