Thursday, June 20, 2024

UK B2C E-Commerce Market Insights & Online Payment Trends 2024: B2C E-Commerce Is Set to Constitute Over a Third of Total Retail Sales in 2024, Reflecting the Increasing Shift Towards Online Shopping – ResearchAndMarkets.com | Silicon Canals

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Over 60% of UK Internet Users Buy Online Weekly as of Q3 2023

The “UK B2C E-Commerce Market Insights and Online Payments Trends 2024” report provides a comprehensive overview of the UK’s digital commerce landscape and emerging payment trends. This report delves into various aspects of the market, including the dynamics of social commerce, the B2C E-Commerce delivery landscape, key market players, the role of AI in enhancing consumer experiences, and the evolving online payment methods.

UK B2C E-Commerce Market Overview

The UK’s retail E-Commerce market is experiencing significant growth, expected to reach a high three-digit billion EUR value by 2027, demonstrating a robust growth trajectory. B2C E-Commerce is poised to constitute over a third of total retail sales by 2024, reflecting the increasing shift towards online shopping.

AI Use in B2C E-Commerce and Online Payments

– A message from our partner –

Adoption of AI technologies in the UK is on the rise, though still moderate. As of 2024 around a third of UK shoppers recognize the benefits of AI in improving order accuracy and delivery updates, highlighting its potential to enhance the online shopping experience.

Online Payments Landscape

The UK’s online payment sector is undergoing a significant transformation, driven by the adoption of digital wallets, tailored SME payment solutions, and the integration of cryptocurrencies. Leading payment methods such as PayPal and Apple Pay are favored by a substantial segment of UK adults for online transactions, indicating their prominence in the market.

Key Questions Answered:

  • What estimate of UK shoppers under the age of 45 are utilizing social media platforms for product research purposes in 2024?
  • Which online payment method is most widely adopted in 2024 in the UK?
  • What proportion of the total UK retail sales is B2C E-Commerce expected to represent in 2024?
  • What is the projected value of click-and-collect sales in the UK by 2026?
  • As of April 2024, which retail websites rank as the most visited in the UK based on monthly traffic?

Key Topics Covered:

1. Key Takeaways

2. Management Summary

3. UK

3.1 B2C E-Commerce Market Overview

  • Retail E-Commerce Sales, in USD billion, in % of Year-On-Year Change, 2021-2027f
  • Share of B2C E-Commerce Making Up Total Retail Sales, 2023e & 2024f
  • Share of Online Food Retail Making Up Total Food Retail, in %, Mach 2022* & March 2023
  • Year-on-Year Change in Retail E-Commerce Cross-Border Buyers, in %, 2020-2025f
  • Most Popular Activities on Mobile Devices, in % of Respondents, 2022
  • Share of Adults That Made a Purchase Using a Mobile Phone or the Internet, by Gender, in %, 2022
  • Weekly Online Shopping Activities, in % of Internet Users, Q3 2023
  • Online Shopping Drivers, in % of Internet Users, Q3 2023
  • Top Channels For Online Brand Research, in % of Internet Users, Q3 2023
  • Top Activities For Which Consumers Use Retailer’s Mobile App, in % of Respondents, February 2023
  • Share of Shoppers Who Use Digital And Physical Touchpoints on the Same Customer Journey, in %, 2024e
  • Share of Respondents Who Are Most Concerned About Sustainability in Non-Food Retail, in %, 2024e

3.2 Social Commerce

  • Channels Used For Product Research And Inspiration, in % of Shoppers, 2024e
  • Number of Social Buyers, in millions, and Year-on-Year Change, in %, 2021-2025f

3.3 B2C E-Commerce Delivery Market

  • Most Preferred B2C E-Commerce Out-of-Home Return Points, in % of Shoppers, 2024e
  • Share of Shoppers Who Expect Free B2C E-Commerce Returns, in %, 2023 & 2024e
  • Click-and-Collect Sales, in GBP billion, & Share of Retail E-Commerce Sales, in %, 2020-2026f

3.4 B2C E-Commerce Player Overview

  • Most Funded Startup Sectors, by VC Investment, in USD million, 2024e
  • Top B2C E-Commerce & Shopping Websites Ranking, % of Total Traffic Share, April 2024
  • Top B2C E-Commerce Marketplace Websites Ranking, % of Total Traffic Share, April 2024
  • Top Retail Websites, by Visits in Mil, Bounce Rate in %, and Pages Per Visit, April 2024

3.5 AI Use in B2C E-Commerce & Online Payments

  • AI Use in B2C E-Commerce And Online Payments Overview, May 2024
  • Benefits of AI Use in B2C E-Commerce Delivery, in % of Shoppers, 2024e
  • Share of Organizations Planning AI Adoption, in %, December 2023
  • Adoption of AI Solutions, by Type, in % of Total Adoption, May 2024
  • Adoption of AI, by Sector, in % of AI Adoption Rate, May 2024

3.6 Online Payments Market Overview

  • Online Payment Market Trends, May 2024
  • Share of Adults That Made a Digital Payment, by Gender, in %, 2022
  • Most Popular Payment Methods for Online Purchases, in % of Adults, February 2024
  • Breakdown of B2C E-Commerce Payment Methods, in % of Total B2C E-Commerce Transactions, 2022
  • Value of Online Card Spending and Contactless Card Spending, in GBP million, March 2022-March 2023
  • Volume of Online Card Payments and Contactless Card Payments, in millions, March 2022-March 2023
  • Share of Mobile Wallet Users Who Have Made a Purchase Via a Retailer’s Embedded Mobile App in the Past Year, in %, 2023e
  • Open Banking Market Overview, May 2024
  • Share of SMEs That Plan to Use Embedded Financial Service Products More in The Next 12 Months, in %, March 2023
  • Biggest Benefits of Embedded Finance Use, in % of SMEs, March 2023
  • Share of Respondents Who Used eCash in the Past 12 Months and Stated It as Their Preferred Online Payment Method, in %, April 2023
  • Share of Online Purchases Paid For Using BNPL Services, in %, January 2022 & January 2023
  • Share of Respondents Who Agree Biometrics Will be Widely Used For Payments, in %, 2025f

Company Coverage:

  • Aliexpress
  • Amazon
  • Apple
  • Argos
  • Asda
  • BBCgoodfood
  • Boots
  • Currys
  • DIY
  • eBay
  • Etsy
  • Google
  • HotUKDeals
  • IKEA
  • John Lewis
  • Next
  • PayPal
  • Sainsburys
  • Samsung
  • Screwfix
  • Shein
  • Stripe
  • Tesco
  • Yodel

For more information about this report visit https://www.researchandmarkets.com/r/5u9be1

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