The latest publication from Hamburg-based market research company yStats.com, titled “UK B2C E-Commerce Market Insights and Online Payments Trends 2024,” 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
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.
