Key findings from Adobe's UK online retail insights for January 2023

BNPL transactions have increased considerably as per the report

Image by Andrey_and_Lesya from Pixabay

Adobe Analytics today released its UK online retail insights for January 2023.

Here are four key points from the report:

• UK customers spent £8.0 billion online in January, a 1.4% decline over 2022.

• The usage of Buy Now Pay Later (BNPL) services increased as customers attempted to stretch the expense of January purchases, accounting for 12% of online orders in January 2022, up from 10.7% in January 2022.

• With 59.7% of transactions made on smartphones, mobile shopping was the most popular channel.

• Due to frigid weather conditions and high energy prices, demand for winter warmers such as heated blankets, hot water bottles, and outerwear increased.

The real surprise here is the huge increase in BNPL transactions. It could translate into further consumer debt this year.