yStats.com, leading E-Commerce research firm based in Hamburg, Germany, published a new report focusing on predictions for the online retail market in the UK. The publication, “UK B2C E-Commerce Sales Forecasts: 2016 to 2020,” cites various primary sources to conclude that M-Commerce and click-and-collect services play a major role in shaping the future of this market.
The UK has one of the largest and the most advanced B2C E-Commerce markets worldwide. In 2016, more than three quarters of the adult population in the UK are online shoppers. According to various sources cited in the new report by yStats.com, online retail has long surpassed the 10% mark of total retail sales in this country. It follows that the online retail market in the UK is closer to maturity than in many other countries worldwide and is projected to lose nearly 2 percentage points of its global market share due to a lower growth rate.
On the other hand, the UK is expected to remain one of the frontrunners in the omnichannel retail trend. According to some forecasts revealed in the yStats.com report, mobile commerce could outpace total E-Commerce sales in the UK and reach a share of close to 50% of total online sales within the next five years. Another driver of the omnichannel trend is proliferation of the click- and-collect service, likewise projected to grow faster than online retail sales overall. Although online pure-play Amazon remains the market leader, the majority of other top 10 B2C E-Commerce players have both stores and online presence and can offer their customers an option to buy conveniently online and pick-up in-store.