The UK ecommerce market continues to be a powerhouse in Europe, with no signs of slowing down anytime soon. A new extensive report reveals the growth in ecommerce adoptions amongst the UK population. 16.4 percent of total retail sales come from the internet, compared to 14.7 percent in 2016. This number is expected to continue to grow.
This report also revealed consumer behavior and consumer trends; insights that will help business owners moving into the new year.It also shared interviews with leading retail, academic and logistics exports.
As far as growth and upcoming markets, the B2C ecommerce turnover grew 13,739 (millions of GBP), which was driven by a growth rate of 13.65%. Researchers say that this number is set to rise in 2019. The biggest player of them all in the ecommerce market is Amazon, with a staggering 91% of consumers stating they used the marketplace – compared to 56% globally.
A lot of information was also revealed about consumer behavior in the 2018 United Kingdom B2C eCommerce Report. Clothing is the top choice for online purchases within the UK. While UK consumers are avid online shoppers, they also appreciate shopping on the high street. The main reason they turn to the internet to browse is the level of choice, ability to compare prices, and cost.
The report also says that almost half of online consumers use their mobile/tablet to search products, then move to their desktop when they’re ready to make their purchase. When they do make an order, the majority of shoppers choose UK online retailers (93%), and 31% choose retailers from other EU nations.
Opportunities and Challenges for Merchants
Moving into 2019, the information this new report provides will help merchants prepare for a successful year. In 2018, the UK had a robust infrastructure with a 95% internet penetration rate. On the other hand, there are a few obstacles. Consumer expectations and speed of delivery are two of the top challenges. One of the biggest areas of improvement for the new year for ecommerce retailers is attention to detail; 17% of online consumers had the wrong or damaged item delivered to them.
Another option merchants can explore is finding a payment processor that offers the best solutions to customers. For merchants that want to learn more and compare processors, checkout the information Best Payment Providers has to offer, like helpful tips on paymentsense hidden charges.
Author Bio:Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry has helped thousands of business owners save money and time.