NewswireToday - /newswire/ -
London, United Kingdom, 2012/09/18 - The UK B2C e-commerce market is set to boom over the next few years, with the industry being predominantly driven by the number of shoppers who now do their shopping via their mobile smartphone - CompaniesAndMarkets.com.
The UK B2C e-commerce market is going from strength to strength, despite the gloom shadowing the national economy. Total ecommerce B2C sales in the country reached $109 billion in 2011, and will rise more than $15 billion in 2012.
The UK has long dominated Western Europe's e-commerce market, accounting for well over half of annual sales in the EU big five.
In the UK, not only does the number of Internet users continue to grow, but also the number of online shoppers. Due to this trend it has been predicted that almost half of physical stores will be forced to close by 2020.
Where as in 2010 two thirds of the British population ordered products and services online, in 2011 this figure increased to more than 70%, compared to an EU average of less than half of the population making online purchases.
In the first half of 2012, the UK B2C e-commerce market saw shoppers spend almost £35 billion online, which shows a clear increase when compared to the previous year's figures.
"Clothes, Sports Goods" represented the largest sector of the UK B2C e-commerce market in 2011, with 41% of sales, followed by "Travel and Holiday Accommodation" and "Household Goods".
Other successful product categories were "movies/music" and "books and magazines". Online food purchases are also becoming increasingly popular, with revenue from online food purchases expected to grow by more than 10 % annually over the next few years.
Mobile shopping is another growing trend within the UK B2C e-commerce market. As much as 5% of all e-commerce revenue is generated using mobile devices. Additionally, more than half of all smartphone users have made at least one purchase with their mobile phones.
Even when they do not complete transactions via mobile, large numbers of UK shoppers use their phones to take pictures of potential purchases, access online reviews, compare prices, consult friends and family, locate nearby stores, add items to an online shopping list or place an order
Overall, the UK B2C e-commerce market is highly developed, which is reflected in decreasing revenue growth rates in the long term. However, there is still potential for growth, such as in m-commerce and with daily deal websites.