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Sep 30, 2022, 10:15 ET
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DUBLIN, Sept. 30, 2022 /PRNewswire/ — The “United Kingdom B2C Ecommerce Market Opportunities Databook – 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics – Q2 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
United Kingdom B2C Ecommerce market is expected to grow by 12.24% on annual basis to reach US$285.5 billion in 2022.
The medium to the long-term growth story of the B2C Ecommerce industry in United Kingdom promises to be attractive. The B2C Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 9.83% during 2022-2026. The country’s B2C Ecommerce Gross Merchandise Value will increase from US$254.4 billion in 2021 to reach US$415.4 billion by 2026.
The e-commerce industry has gained rapid momentum in the United Kingdom as consumers transfer their spending to online channels. Across Europe, the United Kingdom e-commerce market is one of the more advanced and presents new players with an opportunity to test out new businesses and approaches to internet retailing. With double-digit growth over the last three to four years, the e-commerce market in the United Kingdom has significantly contributed to the global growth rate.
Over the next few years, the industry is expected to continue its upward growth trajectory. In 2021, e-commerce transactions accounted for more than one-quarter of all retail sales in the United Kingdom. With the market expected to record further growth, e-commerce transactions will reach nearly one-third of all retail sales by 2024. Amid the growing adoption of digital wallets, alternative payment methods such as buy now, pay later have also gained momentum in the country.
With BNPL becoming one of the fastest-growing online payment methods in the United Kingdom, e-commerce players cannot ignore the fact that BNPL and digital wallets are growing in prominence among consumers in the country. As more consumers see the benefits offered by innovative payment methods, such as BNPL, e-commerce players have to find innovative ways to create technology-centric strategies to meet their customers’ growing and diversified needs.
Online fashion retailers are increasing their marketing spending to drive growth
Over the next three to four years, the online shopping trends are expected to see further uptrend among consumers. While this offers a growth opportunity for online retailers, there is increasing competition in the industry for market share. Consequently, firms are increasing their marketing spending to gain more market share in the United Kingdom.
More retailers are launching online marketplaces to drive their sales volume in the United Kingdom
Amid the increasing trend of online shopping among consumers in the country, offline retailers are boosting their presence online by launching their e-commerce marketplaces.
Online food delivery platforms are expanding their strategic partnerships with supermarkets to launch the service in more locations
To tap into the high-growth market and increase their market share in the online grocery segment, online food delivery platforms are expanding their strategic partnerships with supermarkets to launch the service in more locations.
Amazon launches a free food delivery service for its Prime members in the United Kingdom
With food delivery platforms gaining increasing traction among Brits over the last two years, e-commerce giants are looking to enter the segment by offering free food delivery services to their select users.
The United Kingdom has a more established telemedicine market compared to other countries in Europe
Amid the growing competition in the online medicine delivery segment, players enter into the quick commerce sector to increase their order volume and gain more market share.
Scope
Key Players
United Kingdom B2C Ecommerce Market Size and Future Growth Dynamics
United Kingdom User Statistics and Ratios of Key Performance Indicators
United Kingdom B2C Ecommerce Market Share by Key Players
United Kingdom B2C Ecommerce Market Size and Forecast by B2C Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2017-2026)
United Kingdom B2C Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
United Kingdom B2C Ecommerce Market Share by Travel and Hospitality Sales Channel
United Kingdom B2C Ecommerce Market Size and Forecast by Online Food Service Sales Channel
United Kingdom B2C Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2017-2026)
United Kingdom B2C Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2017-2026)
United Kingdom B2C Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2017-2026)
United Kingdom B2C Ecommerce Market Size and Forecast by Operating System
United Kingdom B2C Ecommerce Market Size and Forecast by City
United Kingdom B2C Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2017-2026)
United Kingdom B2C Ecommerce Consumer Demographics
For more information about this report visit https://www.researchandmarkets.com/r/9p2kcc
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Research and Markets
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SOURCE Research and Markets
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