Missing The Youth Pound

A report by e-commerce payment brand Ukash describes how online retailers are missing crucial youth spend opportunities.  Most retailers will not accept cash payment over the net and this is the reason why they could be losing out on £2.5billion worth of potential sales.

Hans Olav Hagen, managing director, of Ukash said:

"Young people represent the group that is most adept at using new technology and among the first to display new consumer behaviour trends. However, they are currently being ‘digitally excluded’ from shopping online."

Ukash estimates that online retailers could increase online sales by the following amounts:

• The Carphone Warehouse £9m
• Monstermob £3.5m
• Video Island £1.4m
• Kitbag £1.1m
• Asos £1m
• Stream mobile division £1m
• Firebox £0.6m

The Retail Bulletin article link.