The 2018 UK Ecommerce Industry Report
Post by Expandly on 10th May 2018
The United Kingdom B2C Ecommerce 2018 Report has been published and provided us with some interesting insights into the UK ecommerce industry.
This is a Man’s World
Just! 77% of UK men have made a purchase online, compared with 76% of women. Males are more concerned about price than women are (37.7% compared to 38.5%), whereas women care more about convenience (52.6% verses 42.8%). If your products are gender-focused, take these statistics into account when setting your pricing and delivery.
Opportunity in the UK
With 95% of the UK being online users, a GDP growth of 2.05% in 2017 and forecast GDP growth of 1.46% in 2018, opportunity is ripe for ecommerce sellers in the UK. In fact, business-to-consumer turnover is predicted to grow by approximately 14% in 2018 and we are already seeing an average £1.2 billion spent each week online.
Online vs Instore
The UK clearly prefer shopping online, with 54% finding more choice, 46% finding it cheaper and 53% finding it easier. However, 93% will still shop in-store, as well as online, which is great news for those that have both and online and in-store presence.
UK vs the Rest of the World
The UK are still a loyal bunch, with 93% preferring to buy from national sellers, however, one third have purchased from other EU countries. If you are UK-based, promote it.
Talking ‘Bout My Generation
There are notable differences between the UK’s generations and their online shopping habits.
– 91% of millennials are shopping online, compared with 45% of baby-boomers
– 50% of generation Z are still using cash, compared with 23% of generation Y
– Generation Y spend the highest online: 33% spend between £100-£499
– 31% of 35-44 of millennials have bought online in the last 3 months
What are we Buying?
Where are we Buying?
eBay is the most popular retail app across devices, whilst…
25% said the speed of delivery was a problem they had encountered and
The average number of items returned per order is three and almost half would be unlikely to shop with a retailer again if they had to pay for a return. 75% return clothes, with 11% buying an extra size in order to return. In other words, review your returns policy.
What Does This Mean for Ecommerce Sellers?
Ecommerce in the UK is huge and set to get bigger. Consumers are influenced by ease, price and the ability to return items. E-retailers are advised to adapt to growing customer expectations in order to satisfy customer needs and obtain great customer feedback. Identify your customer personas and then use this research to influence your strategy, policies and marketing.
Expandly is multichannel management software that allows you to manage your Amazon account, alongside your eBay and Etsy Accounts and shopping cart, all from one central location.