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Online Payments and Retail in the UK: An In-Depth View

Published By :

Verdict Financial

Published Date : Jul 2016

Category :

Banking

No. of Pages : 31 Pages

Summary
The online shopping market in the UK is the largest in Europe and one of the largest worldwide. The market has reached a high level of maturity, although growth is still expected to be strong over the next five years, especially in mobile commerce as consumers become more accustomed to using mobile devices to shop online.

Key Findings
Consumers spent a total of $66.3bn on retail goods online in 2015.

Online retail returns will grow 50% in value between 2015 and 2020.

Personal debit cards are the most popular payment tool for UK consumers online, followed by personal credit cards.

Synopsis
Using a combination of data from Verdict Retail and Verdict Financial, this report provides a deep level of insight into online shopping in terms of devices used to shop online, the most popular merchant categories, and the online payment tools that account for the largest shares of the overall market.

Sizes the online shopping market in terms of retail spending and overall online consumer spending.

Analyzes the key merchant segments and payment tools used by consumers, and identifies the key drivers of consumer choices when buying online.

Explores the growing role of online retail returns in the UK market and the challenges this presents to online merchants and payment providers.

ReasonsToBuy
Understand the size of the UK online payments market fully with this comprehensive look at the market.

Find out the key barriers to online shopping in the UK and how they may be overcome.

Understand the size of the online retail returns market and which sectors are most strongly affected by it.

Discover what consumers are spending their money on online and how they are spending it in order to inform your online payments strategy.
Table of Contents
Market Overview
Market by Merchant
Market by Tool
Appendix

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