Today the Ecommerce Foundation released a new B2C E-commerce Report on the state of E-commerce in the United Kingdom.
The report, commissioned by Ecommerce Europe in cooperation with Ingenico, Asendia, Webhelp, PostNL and GfK, covers the latest figures, trends and developments for the British online retail market. This report is the first in a series of countries that will be highlighted in 2016.
UK E-commerce Facts at a Glance
In 2015, over 43 million people in the UK shopped online, of which 20% already used a mobile device. The British consumers spend an average of 3,652 euro per e-shopper. The E-commerce GDP in the UK is projected around 6% of the total GDP.
The British B2C e-commerce turnover and growth rate is stabilising. For 2016 a growth rate of 10.5% is expected and a total in B2C e-commerce spend of around 173 billion euro. The infographic below shows the main figures of the British consumers' online shopping habits.
UK payment market dominated by cards
The UK payments market is dominated by the two major card schemes Visa and MasterCard, as their combined market share for web-based payments is projected around 60%, followed by eWallets (23%) and bank transfers (6%).
Visa has the largest share in online card payments as 3 out of every 4 card payments are done with a Visa-branded card. Important to recognize is that debit cards are three-times more popular than credit cards, and twice as popular as the usage of eWallets (such as PayPal).
In 2016, the volume and value of e-commerce payments continued to rise more rapidly than those of card payments – overall at 26% and 17% respectively – which indicates that other payment methods are gaining market share. It is expected that mobile-optimized (non 3D-secure) and less fraud-prone methods and solutions like eWallets and bank transfers will grasp some of the card payments’ market share in the coming years.
Get Your (Free) Report
The free light version of the report includes facts and figures of interesting topics, such as B2C e-commerce turnover, the number of online shoppers and cross-border and mobile e-commerce. In addition, this version contains expert interviews and tips and tricks for online merchants.
The full version, which can be ordered for € 95, also contains a clear overview of the most popular product and service groups in terms of online sales.
About the Ecommerce Foundation
The Ecommerce Foundation is an independent non-profit organization, initiated by worldwide national e-commerce associations and online and omnichannel selling companies from industries such as retail, travel & finance.
By combining collective goals and efforts, the Ecommerce Foundation is able to realize reports on e-commerce facts and figures, e-commerce benchmarks, research, studies and publications that can not be realized on a national or individual basis.
For more information please visit the Ecommerce Foundation website.
Article partly sourced from press statement by Ecommerce Foundation, April 21th, 2016