Published on : Aug 24, 2017
Albany, New York, August 24, 2017 - ResearchMoz.us has announced the recent addition of a detailed market research report covering the e-retail market in the UK. The report, titled "E-retail in the UK - 2017", presents a thorough account of the key online channels in the UK, hot issues, key trends, and major behavioral patterns of consumers and leading companies in the market. The report also forecasts the growth prospects of the market over the period 2017-2022 across principle sectors of the UK e-retail market.
The report states that the online retail sector in the UK will exhibit growth at a healthy pace over the forecast period, significantly benefitting the overall retail market in the UK. Massive sales of clothes and footwear will chiefly drive the market, with sales rising by nearly 55% from 2017 to 2022. Continued success of fashion online pure play firms and increased investment aimed at the improvement of consumer experience will ensure that the footwear and clothing segments remain the key driving forces of the e-retail industry in the UK over the report’s forecast period.
Despite providing massive and new growth opportunities to multichannel retailers who are struggling to fuel offline sales, the e-retail industry poses concerns such as the continuous need for innovation so as to offer quick and economic fulfilment options and management of returned stock. Returns of products bought from e-retailers are projected to rise at almost the same pace as online expenditure, driven by factors such as rising consumer confidence with simple and free/low-cost returns offers and several delivery saver deals.
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The report states that the UK e-retail industry will massively benefit from sales through smartphones. Over the report’s forecast period, the expenditure on e-retail platform via mobiles is expected to grow 112.0%, overtaking sales across the tablet platform in 2018. Growth of this channel of sales in the UK e-retail industry is expected to be driven by the rising clicks on see now, buy now ads on popular social media platforms. Looking at the promising growth opportunity that the mobile platform offers, leading e-retail companies are focusing on investment in mobile applications.
The clothing and footwear segment is expected to dominate the online returns market, with the category expected to account for nearly 70% of all e-retail returns by 2022. To curtail this significant potential rise in returns, clothing and footwear retailers need to bring improvements in the way products are displayed; use of higher quality if image, video content, and styled model pictures could prove to be beneficial. With its all-inclusive data, the report forms the basis for formulating effective growth strategies for achieving successful returns in the UK e-retail industry over the report’s forecast period.
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