As businesses look to establish an online presence, creating ecommerce platforms is fast becoming a standard necessity of almost every type of business. Statista research estimates that the UK ecommerce market in 2019 was worth £639 billion and continues to grow year after year.
This may seem like an interesting statistic to read. We bet it’s even more interesting for the ecommerce companies such as Amazon, eBay, and even Marks & Spencer. Despite all these different statistics, one thing is sure: ecommerce in the UK will continue to grow and develop into the future.
What is the future of Ecommerce in the UK?
More User-friendly Online Experience
The days of wandering around massive malls are over, and that’s great news for both retailers and consumers alike. People turn to online shopping because it is simpler. It is also more convenient and sustainable, especially with a smooth user experience.
Don’t Disappoint Me reports that 87% of UK consumers shop online. The number of people who buy things online in the UK grows every year. It went from 62% in 2010 to 87% in 2020.
If you have an eCommerce business in the UK or partner with a Bigcommerce agency, there’s something you should know. It’s a fact that the UK loves online shopping. And with more and more people using e-commerce solutions to shop, the future of UK e-commerce is looking very bright indeed.
Social Media Marketing Expands the Horizons of E-commerce
As social media becomes more pervasive and influential in daily life, brands of all sizes around the UK are already increasing their focus on this trend. The most obvious advantage of selling online via social media is the opportunity to reach potential customers with low investment and potentially high returns.
According to research by Osome, 45% of UK consumers are likely to purchase products through social media, but only 24% of UK businesses use social media to sell products. Thus, more businesses should embrace this trend. Also, social selling has led to the emergence of influencer marketing.
What Are the Challenges Facing E-commerce in the UK?
According to retailers and wholesalers, the four main challenges facing e-commerce in the UK are: reducing cart abandonment rates, combating e-commerce fraud, making the delivery experience more flexible, and offering integrated payment methods.
Furthermore, omnichannel integration could be a potential challenge, as retailers are failing to create a smooth customer experience across all platforms.
Currently, the ecommerce market in the UK is in a very healthy state, with many opportunities for companies to find customers and expand their market share. However, as competition rises, the future of ecommerce businesses globally will have difficulty surviving if they do not diversify their digital marketing activities.
Fortunately, numerous online marketing channels are available to businesses today that can help them reach new audiences, increase revenues, and find new customers. The future of ecommerce in the UK is bright, but businesses must learn to adapt and evolve alongside it.