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.