Converged tech alters UK buying habits

UK consumers and businesses are ahead of the curve when it comes to adopting new technologies, according to KPMG's latest consumer and convergence report, states Banking Times.

KPMG says online shopping and the use of social media are more widespread in Britain than in other parts of the globe. However, when it comes to mobile banking, consumers in the UK are more resistant than elsewhere.

The Wall Street Journal Online notes that the report shows that consumers are increasingly happy to be tracked by advertisers, from 50% in 2008 to 62% in the last survey. This is as long as there is a perceived benefit from it, in the form of reduced cost or free content.

However is a growing concern by customers about data loss and privacy, a fact that will be a key barrier to the adoption of new technology.

Around 77% of British shoppers prefer to buy goods like CDs, DVDs, books and video games online - compared with 65% globally, says BBC News.

“From buying goods on their mobile phones to keeping up with friends on social networks, consumers are increasingly reliant on a range of technologies that perform important - yet often overlapping - tasks,” says Tudor Aw, KPMG's European head of technology.

Aw adds this new 'converged lifestyle' will have huge implication for retailers. According to KPMG, in the UK, 74% of consumers said they were more likely to buy flights and holidays online and six in 10 used some form of online grocery shopping.