The market of UK online retail increased at double digit growth rate in standings of GMV over the evaluation period of 2013-2018. The market growth was maintained by the prominent growth in total smartphone penetration, growth in online shoppers and augment in the youth population. The accessibility of the better deals and bids along with transformation in the consumer behavior towards in-store has suggestively affected the growth in the market and has reformed the digital landscape in the industry. The market is presently placed in the growth stage due to the growing penetration of online retail sales throughout 2019. As more retailers turn online for their shopping, more and more shops are leave-taking the high street (i.e. offline stores across UK). On the other hand, the online retail players have become vastly competitive on the basis of personalized understanding and social engagement.
UK Online Retail Market Segmentation
The UK online retail market is categorized into product, device, gender, and mode of payment. However, based on the product the market is classified into Apparel and Footwear, Beauty and Personal Care, Consumer Appliances and numerous others. Apparel and Footwear conquered the online retail market as they have maximum demand amongst both male and female populace while traditional toys and games are the lowest due to the declining attentiveness of kids towards traditional games. In addition, based on the mode of payment the UK online retail market is divided into Debit+Credit Card, Net Banking and M-Wallets and Cash on Delivery). With the prominent growth in the digitalization coupled with smartphone penetration in the region, UK customers were observed to prefer generating the online payments via debit as well as credit cards and net banking. As a result, cash on delivery option saw a speedy decline throughout 2019.
Although, dependent on the device, the UK online retail market is categorized into Desktop and Mobile. More than half of the populace in UK visit the E-commerce site via mobile for the determination of searching about the product whereas, the lesser amount of audience actually purchase the product via mobile. UK people commonly prefer to go for a desktop and tablet to create the buy of the product. This is owing to the great display screen obtainable on laptop as matched to mobile, which smooths a better image and view of the product. Furthermore, on the basis of gender, the UK online retail market is classified into Male and Female. The male portion within European regions is equally active in terms of online shopping equated to female sector. Though, both male and female have unalike product categories to spend being an E-shopper, males normally prefer to spend more on electronics whereas, the female sector are the major shopper of apparels and footwear.
The Competition has augmented over the years leading to the growing number of online retail websites across UK. Major corporates include Amazon.com Inc, eBay.Inc, Tesco Plc, J Sainsbury Plc and numerous others which are competing by giving all device optimization, better deals, hyper personalization through private engagement and convinent, protected and fast payment modes. The Amazon Inc is the ruling player in online retailing with massive product range, great shopper trust and support. The giant has various subsidiaries worldwide. They largely sell all their products online and generate no cost in preserving physical outlets.
Future Outlook And Projections
The Online retail market in UK is projected to monitor a single digit growth rate in the estimate period of 2018-2025F. The influence of brexit will slow the growth rate owing to unanticipated alteration in the regulations and currency fluctuations leading to the deterioration in the cross border transactions during the future. However, growth is maintained by augmenting omni channels, requirement for hyper-personalization and snowballing mobile retailing within the UK. Other requirement drivers include mounting social media users, shift towards the mobile commerce and technological modernization.
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
J Sainsbury Plc
John Lewis Partnership Plc
For More Information on the research report, refer to below links:-
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