The necessity of developing an online shop is one of the most important lessons retailers should take away from the current economic state. Companies that were able to sell their products and services online during the recent lockdowns fared much better than those who were unable.
E-commerce will increase in the upcoming year and beyond, with global online revenues expected to reach nearly $5 trillion by 2021. So far, this has meant that lengthy, strong, and seemingly evergreen consumer behavior patterns were turned on their heads to make way for the new normal. As societal pressures begin to loosen, it is up to marketers to brace for this change in attitude, to prepare for the consumers’ interest and to satisfy their newly formed needs and demands.
Based on the current reports from the Office for National Statistics (UK), clothing and sporting goods were the most common products purchased online in 2020 by both men and women in the UK. The second most common purchases showed that around a third of consumers in the United Kingdom ordered from restaurants, fast-food stores, or catering services. According to retail experts at GlobalData,more than half of UK customers currently purchase online, and online shopping in the United kingdom is anticipated to expand by 29.6% between 2019 and 2024. Using a range of industry data and perspectives, Retail Insight Network analyses the rise of online shopping in the United Kingdom. Per the Office for National Statistics, 97 percent of 16 to 34-year-olds in the United Kingdom started shopping online in the previous year. What is it with online shopping that attracts the British? The answer is delivery – in the United Kingdom, online shops offer convenient, quick, and low-cost domestic shipping.
More consumers should use their mobile devices to perform a variety of tasks, such as checking email and paying bills. Purchasing with a smartphone becomes more accessible, thanks to dedicated applications and “order now” buttons on social media sites. This highlights the challenges faced by UK retailers, who have been squeezed by the rise of online shopping and the uncertainty surrounding Brexit.