Because of the UK’s struggling physical retail sector, overall retail growth is decelerating, but ecommerce continues to grow at double-digit rates. However, traditional brick-and-mortar retailers that embrace digital channels stand to perform just fine.
How much will UK consumers spend on retail and retail ecommerce in 2019?
Growth in retail spend is slowing amid Brexit concerns and an ever-challenging retail environment. This year, total retail sales will reach £476.65 billion ($635.46 billion). Physical retail is having the toughest time, though, with nonecommerce sales posting growth of just 0.4%. Ecommerce sales will grow 10.9% this year, to reach £106.46 billion ($141.93 billion) and 22.3% of total retail.
What influence will mobile have on retail ecommerce this year?
This year, 58.9% of mcommerce will be attributable to smartphones. By 2023, that proportion will swell to 71.2%.
How are retailers blending the offline and online experience?
The answer to retailers’ current woes isn’t just mobile, of course. After all, almost eight in 10 retail pounds spent are in physical stores. Omnichannel retailing is of imminent concern to most retailers—physical and digital pure plays. Click-and-collect is already somewhat of a staple among successful retailers in the UK, while several are trialing cashierless stores that utilize smartphones in the physical environment.
WHAT’S IN THIS REPORT? This report presents our latest estimates and forecasts for retail, ecommerce and mcommerce sales in the UK, and for digital and mobile buyers in the country. It also examines key trends shaping the ecommerce market.
KEY STAT: UK consumers will spend £106.46 billion ($141.93 billion) online in 2019. This will make up 22.3% of all retail spend, a proportion that will reach 27.9% in 2023.
Estimates are included for the following areas:
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