UK online retail market increased at double digit growth rate in terms of GMV over the review duration of 2013-2018. The market growth was backed up by the effective augment in the total smartphone penetration, growth in the online shoppers and augment in youth populace. The accessibility of better deals and bids along with effective transformation in customer behavior towards in-store has suggestively affected the growth in the market and has transformed the digital scenario in the industry. The market is presently placed in the growth stage due to the effective growth in the penetration of online retail sales throughout 2019.
As more retailers seizure online for their shopping, more and more shops are parting the high street (i.e. offline stores in UK). Not only has this, the online retail players have become effectively competitive on the basis of personalized involvement and social engagement. Whereas, the competition has augmented over the years leading to the growing number of online retail websites across UK. Foremost corporate involve Amazon.com Inc, eBay.Inc, Tesco Plc, J Sainsbury Plc and numerous others which are competing by conveying all device optimization, improved deals, hyper personalization through the personal engagement and convenient, protected and fast payment modes. Additionally, Amazon Inc is the governing player in online retailing with enormous product range, great consumer trust and support. The giant has several subsidiaries across the globe. They principally sell all their products online and create no cost in preserving physical outlets.
Nonetheless, the UK online retail market is divided into different segments such as product, device, gender and mode of payment. By the product categories, the UK online retail market is divided into different segments such as Apparel and Footwear, Beauty and Personal Care, Consumer Appliances and Others. Whereas, the Apparel and Footwear registered the online retail market as they have greatest demand amongst both male and female populace while traditional toys and games are the lowest due to the decreasing interest of kids towards the traditional games.
In addition by device, the UK online retail market is categorized into desktop and mobile. However, more than half of the people across UK visit the E-commerce site via mobile for the determination of searching about the product whereas, the slighter proportion of audience actually purchase the product via mobile. UK people commonly desire to go for a desktop and tablet to make the buy of the product. This is owing to the great display screen available on laptop as associated to mobile, which simplifies a better image and interpretation of the product.
By mode of payment, the UK online retail market is categorized into Debit+Credit Card, Net Banking and M-Wallets and Cash on Delivery. Whereas, the effective augment in the digitalization coupled with the smartphone penetration across the country, UK consumers were witnessed to prefer generating online payments via debit as well as credit cards and net banking. As a result, cash on delivery choice saw a speedy decline throughout 2019.
Nonetheless, the online retail market in UK is projected to observe a single digit growth rate in the review period of 2018-2025F. The impression of brexit will slow the growth rate owing to unexpected modification in the regulations and currency fluctuations leading to the decrease in the cross border transactions during the future. However, growth is maintained by effective growth in theomni channels, requirement for hyper-personalization and growing mobile retailing within the UK. Other requirement drivers involve increasing social media users, shift towards the mobile commerce and technological innovation.
Key Segments Covered:-
By Product Category Type (Apparel and Footwear, Beauty and Personal Care, Consumer Appliance, Consumer Electronics, Consumer Health, Food and Drink, Home Care, Home Improvement & Gardening, Homewares/Home Furnishings, Media Products, Personal Accessories and Eyewear, Pet Care, Traditional Toys and Games, Video Games Hardware and Other Internet Retailing)
By Type of Device (Mobile and Desktop)
By Gender (Female and Male)
By Mode of Payment (Cash on Delivery, Debit + Credit Card and Net Banking and M-Wallets)
Key Target Audience:-
Online Retail Companies
Third Party Websites of Online Retail
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2025F
Companies Covered:-
Amazon.com Inc
eBay Inc
Tesco Plc
J Sainsbury Plc
John Lewis Partnership Plc
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