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PayPal: Purchases on UK Social Media to Double in 6 Months

PayPal: Purchases on UK Social Media to Double in 6 Months

Almost a quarter (24%) of British businesses allow customers to make transactions through their social media channels, according to PayPal, which says that number will double over the next 6 months.

That means shoppers will soon be able to use social media to buy from an extra 600,000 UK retailers.

UK businesses that already sell on social say that 38% of their sales volume comes via social media, but that lags behind the global average of 45%.

“Currently 8.4m British consumers shop via social media, with Facebook, Instagram and Snapchat being the most popular channels,” PayPal UK said. “A fifth of those already purchasing through social do so weekly, with individual social spending averaging £71 monthly.”

PayPal said its service helps give shoppers the confidence to shop on mobile devices, particularly when it comes to having their financial information linked to their social media accounts. “As well as establishing the necessary operational processes to sell via social platforms, businesses must address shoppers’ safety fears, offering trusted, mobile-friendly payment options, such as PayPal, that convince them they can buy quickly and securely.”

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Ina Steiner
Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.