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UK Online Retail Market Report by Product Type (Apparel and Footwear, Beauty and Personal Care, Consumer Appliances, and Others), Device (Desktop, Mobile), Gender (Male, Female), Mode of Payment (Debit+Credit Card, Net Banking and M-Wallets, Cash on Delivery), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A24936
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UK Online Retail Market Overview:
The UK online retail market size reached USD 144.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 683.57 Billion by 2032, exhibiting a growth rate (CAGR) of 16.40% during 2024-2032. The market is driven by the rising utilization of mobile e-commerce, with more individuals relying on smartphones for online purchases, along with the growing emphasis on sustainability, as people are prioritizing eco-friendly products in their buying decisions.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | USD 144.3 Billion |
| Market Forecast in 2032 | USD 683.57 Billion |
| Market Growth Rate 2024-2032 | 16.40% |
UK Online Retail Market Trends:
Growing Mobile E-Commerce
There is an increase in the number of people relying on smartphones for online purchasing, which is positively influencing the market in the UK. Retailers are responding to this trend by optimizing their websites and apps for mobile devices. This innovation is increasing the overall sales, as individuals are finding it quicker and more comfortable to buy directly from their mobile devices. Retailers are constantly improving their digital strategy to accommodate the growing number of mobile shoppers. They are investing in mobile-friendly designs and increasing app capabilities to facilitate a more seamless purchasing experience. This involves streamlining the checkout process and using new mobile payment solutions to make transactions faster and secure for buyers. The emphasis on mobile optimization is also encouraging the development of innovative e-commerce solutions. Retailers are introducing services like one-click payments, mobile wallets, and real-time order tracking to enhance convenience and buyer satisfaction. These enhancements are attracting more mobile buyers, promoting repeat purchases, and increasing brand loyalty.
As mobile shopping is gaining traction, the UK internet retail business is expanding. E-commerce enterprises are capitalizing on the trend by developing mobile-centric experiences and implementing new technology to stay competitive. This trend is altering the e-commerce landscape and establishing new benchmarks for digital shopping experiences. According to the IMARC Group’s report, the UK e-commerce market is projected to exhibit a growth rate (CAGR) of 18.50% between 2024 to 2032.
Reliance on 5G Technology
As per the 2024 Connected Nations Update by the Office of Communications (Ofcom), around 92% premises are receiving a 5G signal outdoors from at least one mobile network operator in the UK. The advent of 5G technology in the UK is providing quicker and more dependable internet access, thereby improving the online retail shopping experience. Its fast speed is allowing users to browse on online retail platforms with faster load times and enhanced interactions. This development is enabling retailers to utilize immersive technologies like augmented reality (AR) and virtual reality (VR), which is helping people to see products in real-time without delays. Besides this, the decreased latency and enhanced bandwidth of the technology is facilitating seamless transactions, along with capabilities like live streaming events and immediate customer service through chatbots. Retailers are utilizing these innovations to develop interactive marketing strategies and customized shopping experiences that appeal to buyers proficient in technology.
The increasing accessibility to high-speed connections is creating new opportunities for brands to engage with their audience effectively. This widespread coverage encouraging the advancements in online retail driven by 5G technology is making the shopping experience more dynamic and aligned with user expectations, thereby offering a favorable market outlook in the country.
UK Online Retail Market News:
- September 2024: Moonpig, an online platform specializing in personalized cards and gifts, teamed up with The Entertainer, a major retailer in the UK, to offer a selection of toys alongside its products on its site.
- March 2024: UK fashion and homeware retailer Matalan, in partnership with global digital transformation consultancy Kin + Carta, became the first UK retailer to leverage a Generative AI tool for product descriptions of items to improve the shopping experience and increase sales.
UK Online Retail Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, device, gender, and mode of payment.
Product Type Insights:
- Apparel and Footwear
- Beauty and Personal Care
- Consumer Appliances
- Others
The report has provided a detailed breakup and analysis of the market based on the product type. This includes apparel and footwear, beauty and personal care, consumer appliances, and others.
Device Insights:
- Desktop
- Mobile
A detailed breakup and analysis of the market based on the device have also been provided in the report. This includes desktop and mobile.
Gender Insights:
- Male
- Female
The report has provided a detailed breakup and analysis of the market based on the gender. This includes male and female.
Mode of Payment Insights:
- Debit+Credit Card
- Net Banking and M-Wallets
- Cash on Delivery
A detailed breakup and analysis of the market based on the mode of payment have also been provided in the report. This includes debit+credit card, net banking and m-wallets, and cash on delivery.
Regional Insights:
- London
- South East
- North West
- East of England
- South West
- Scotland
- West Midlands
- Yorkshire and The Humber
- East Midlands
- Others
The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
UK Online Retail Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | USD Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Product Types Covered | Apparel and Footwear, Beauty and Personal Care, Consumer Appliances, Others |
| Devices Covered | Desktop, Mobile |
| Genders Covered | Male, Female |
| Mode of Payments Covered | Debit+Credit Card, Net Banking and M-Wallets, Cash on Delivery |
| Regions Covered | London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, Others |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the UK online retail market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the UK online retail market?
- What is the breakup of the UK online retail market on the basis of product type?
- What is the breakup of the UK online retail market on the basis of device?
- What is the breakup of the UK online retail market on the basis of gender?
- What is the breakup of the UK online retail market on the basis of mode of payment?
- What are the various stages in the value chain of the UK online retail market?
- What are the key driving factors and challenges in the UK online retail?
- What is the structure of the UK online retail market and who are the key players?
- What is the degree of competition in the UK online retail market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK online retail market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the UK online retail market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK online retail industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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