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.
In May 2022, Boohoo, one of the leading online fashion retailers in the country, announced that the firm is targeting growth in H2 2022 after increasing its marketing spending, which will help the online retailer to build its newly acquired brands. Notably, the firm has increased its marketing budget by £22 million. Along with the United Kingdom, the firm also has a presence in the United States.
Notably, the United Kingdom is the largest Boohoo market, accounting for 61% of its revenue. In both the markets, the United Kingdom and the United States, the firm gained significant market share over the last two years. The active customer base for the firm has increased by 43% to reach 20 million since 2020. Over the last 12 months, leading to May 2022, the active customer base for the firm has increased by 10%.
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.
In May 2022, Mountain Warehouse, a British outdoor retailer, announced that the firm had launched an online marketplace as it looks to give the customers a wider choice of brands. The marketplace houses some of the most well-known brands in the market, including Nike, Donda Cycling, Slazenger, and Canterbury, among others. Notably, the retailer is also actively looking for new brands to boost the product range for customers on its online marketplace.
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.
In June 2022, Uber Eats and Asda expanded their strategic partnership to add 88 stores to the app across the United Kingdom. This expanded partnership means that Uber Eats customers can purchase groceries from 405 locations nationwide and have them delivered in under 30 minutes. Notably, the strategic collaboration with Asda allows Uber Eats customers to order more than 1800 products on the app, including seasonal items and everyday essentials.
In May 2022, Deliveroo and Sainsbury's also expanded their strategic collaboration to bring another 65 Sainsbury's stores onto Deliveroo, taking the total number to 336 stores in the United Kingdom. The strategic partnership first announced in 2020 will now offer more than 1,500 products to consumers to be delivered on-demand. This extended partnership comes amid the growing number of shoppers looking for affordable and convenient food and grocery products delivered to their homes.
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.
In September 2021, Amazon announced that the firm had entered into a strategic collaboration with Deliveroo. Under the strategic partnership, Amazon offers free food delivery services to its Prime members in the country through Deliveroo Plus. Notably, the Prime members in the country get access to the silver tier of Deliveroo Plus, which offers them free delivery over the order price of approximately US$35.
For Deliveroo Plus service, Deliveroo charges approximately US$5. Thus, this offering from Amazon for its Prime members means that Brits having an Amazon Prime membership will now save over US$55 per year. Notably, the entry of Amazon into the food delivery service in partnership with Deliveroo means further competition for other players, including Uber Eats, DoorDash, and Grubhub.
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.
In November 2021, LlyodsPharmacy announced that its 24-hour medicine delivery service through LlyodsDirect will now be available across England. The announcement came after the successful trial of delivering medicine in as little as 24 hours.
The firm partnered with Royal Mail to pilot the 24-hour delivery service for three months in March 2021. Following the trial completion, the firm announced that the service is available virtually across all of its stores in England.
Under the service, Royal Mail will deliver the standard medicines within 48 hours, whereas the refrigerated and controlled medicines will be delivered within 24 hours.
Marks & Spencer ( M&S )
United Kingdom B2C Ecommerce Market Size and Future Growth Dynamics
Gross Merchandise Value Trend Analysis
Average Value Per Transaction Trend Analysis
Gross Merchandise Volume Trend Analysis
United Kingdom User Statistics and Ratios of Key Performance Indicators
Card Abandonment Rate and Product Return Rate
B2C Ecommerce Per Capita and GDP Per Capita
GDP Per Capita Trend Analysis
United Kingdom B2C Ecommerce Market Share by Key Players
United Kingdom Retail Shopping Ecommerce Market Share by Key Players (Amazon, Best Buy, Etsy, Target, Walmart)
United Kingdom Travel Ecommerce Market Share by Key Players (Booking Holdings, Expedia, Gett, Lyft, Uber Taxi)
United Kingdom Food Service Ecommerce Market Share by Key Players (Doordash, Grubhub, Instacart, Kroger, Uber Eats)
United Kingdom B2C Ecommerce Market Size and Forecast by B2C Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2017-2026)
Retail Shopping ( breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
Online Food Service (breakdown by aggregators, direct to consumer)
Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
Healthcare and Wellness
Technology Products and Services
United Kingdom B2C Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
Platform to Consumer
Direct to Consumer
Consumer to Consumer
United Kingdom B2C Ecommerce Market Share by Travel and Hospitality Sales Channel
Market Share by Travel and Hospitality Sales Channel
Aggregator App - Gross Merchandise Value Trend Analysis
Direct to Consumer - Gross Merchandise Value Trend Analysis
United Kingdom B2C Ecommerce Market Size and Forecast by Online Food Service Sales Channel
Direct to Consumer
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
Other Operating Systems
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)
Digital & Mobile Wallet
Other Digital Payment
United Kingdom B2C Ecommerce Consumer Demographics
Market Share by Age Group
Market Share by Income Level
Market Share by Gender
For more information about this report visit https://www.researchandmarkets.com/r/9p2kcc
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