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United Kingdom B2C Ecommerce Market Opportunities Report 2023: Gross Merchandise Value (GMV) will Increase from $289.9 Billion in 2022 to Reach $405.5 Billion by 2027DUBLIN, March 24, 2023 /PRNewswire/ -- The "United Kingdom B2C Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
The B2C Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 6.73% during 2023-2027. The country's B2C Ecommerce Gross Merchandise Value will increase from US$289.9 billion in 2022 to reach US$405.5 billion by 2027. Rising inflation and surging cost of living have severely impacted consumer spending in the United Kingdom. With the increase in energy prices, most brits are finding it difficult to manage their household budgets, and as a result, have cut down their spending on non-essential items. Consequently, leading to a significant decline in online shopping in the country in H2 2022. Players across e-commerce segments have struggled to gain growth momentum in 2022. Amid the current economic uncertainty, food delivery platforms are also shutting down their operations in some global markets. With the Bank of England expected to further announce a hike in interest rates, the rising cost of borrowing is projected to further impact e-commerce growth in the United Kingdom from the short to medium-term perspective. According to data released by the Office for National Statistics, sales volume declined by 0.4% in November 2022. With consumers spending less on spurlging and saving more for essentials and daily-use items, e-commerce platforms have experienced a decline in order volume. Cash-strapped individuals have even adopted a buy now pay later solution to fund their groceries and fuel purchases. This shows the impact that rising inflation has had on the purchasing power of brits in H2 2022. With recessionary fears, consumers are expected to save more in H1 2023, which will further result in a decline in orders for e-commerce marketplaces and direct-to-consumer retailers in the United Kingdom. Consequently, the publisher expects the economic uncertainty to have a major growth impact on the e-commerce market from the short to medium-term perspective. In November 2022, Deliveroo, the United Kingdom-based food delivery firm, announced that the firm is shutting down operations in Australia. The competition in the segment has surged significantly in Australia, where the firm is competing with Uber Eats and DoorDash. This coupled with the pullback on takeaways due to rising prices has resulted in lower order volumes. In H1 2022, Australia counted for 3% of the ttal gross merchandise value for Deliveroo. Before Australia, the firm also announced an exit from the Netherlands market in August 2022. The move came after Deliveroo reported a larger pre-tax loss of US$177 million in H1 2022. The firm announced that it could not reach sustainable profitability without investing significantly in these markets. Consequently, Deliveroo made a strategic exit from these markets to cut down on costs, while focusing on profitability in its home market. With the cost-of-living biting into the firm's profitability, Deliveroo has also moved into the in-app advertising segment in 2022. In November 2022, Deliveroo announced that it has secured an agreement with Sky for advertising on its platform. Sky Glass is also the first non-grocer partner to advertise on the platform. With the majority of its partners belonging to the grocery industry, Deliveroo is focused to offer its users a food-first experience in the United Kingdom. As food delivery businesses continue to struggle amid the current economic uncertainty, the publisher expects more players to cut their operations in loss-making international markets, while adding another revenue stream to support their path to profitability from the short to medium-term perspective. United Kingdom Retail Shopping Ecommerce Market Share by Key Players
United Kingdom Travel Ecommerce Market Share by Key Players
United Kingdom Food Service Ecommerce Market Share by Key Players
Scope
United Kingdom User Statistics and Ratios of Key Performance Indicators
United Kingdom B2C Ecommerce Market Size and Forecast by B2C Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2018-2027)
United Kingdom B2C Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
United Kingdom B2C Ecommerce Market Share by Travel and Hospitality Sales Channel
United Kingdom B2C Ecommerce Market Size and Forecast by Online Food Service Sales Channel
United Kingdom B2C Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2018-2027)
United Kingdom B2C Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2018-2027)
United Kingdom B2C Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2018-2027)
United Kingdom B2C Ecommerce Market Size and Forecast by Operating System
United Kingdom B2C Ecommerce Market Size and Forecast by City
United Kingdom B2C Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2018-2027)
United Kingdom B2C Ecommerce Consumer Demographics
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