Ecommerce UK growing to €59bn in 2018
Online shopping in the United Kingdom is about to grow by fifty percent over the next five years. It will then account for one euro in every seven euros spent by customers in 2018. At least, that’s what a new research forecasts.
Largely because the spending through smartphones and tablets continues to grow rapidly, the online retail industry in the UK will be worth more than 59 billion euros in 2018, research from retail consultancy Verdict tells us. Also one of the key drivers of this predicted growth is the fact more and more consumers consider online shopping to be as enjoyable as traditional shopping. Just 4% of ten thousand online shoppers said physical shopping was more enjoyable than online shopping. Something 25% said about 18 months ago.
And just because people in the UK spend more money online trough mobile devices, doesn’t mean there’s more online spending taking place outdoors. Because of the rapid adoption of touch screen devices, online shopping has moved into the living rooms. As a matter of fact, two in three consumers said they shopped from their living room, thereby implying that browsing websites while watching tv has had a major impact.
This, and the ability to browse on smartphones (or tablets) where you are, and the fact social media is still gaining more popularity, makes online shopping a more immersive and interactive experience than it was only a couple of years ago. And as a result it seems that physical retailers are losing their advantage in ‘enjoyment’. Both men and shoppers aged between 35 and 54 year olds already think online shopping is more enjoyable than shopping in physical stores. According to Verdict it was a myth that the rise of mobile shopping has led to consumers buying products from a retailer while in the store of a rival retailer. “Rather than making consumers agnostic about where they make their purchases, smartphones and tablets are used in stores mainly to check prices and product details”, Patrick O’Brien, lead analyst at Verdict, says. “The idea that showrooming customers are wielding their smartphones in stores to purchase from rival retailers en masse is a myth.”