Increasing numbers of consumers are shopping online, and 2018 stands to be a bumper year for the growth of online shopping in the UK Online retail offers the consumer increasing choice as well as the ability to deal hunt for the best price. The power isn’t entirely in favour of the consumer, however. Affordable and adaptable ecommerce website development platforms such as Magento allow business owners and agencies alike to construct complex, multifaceted ecommerce websites. With this in mind, here are some important ecommerce website development statistics to help you plan for 2018.
1. Ecommerce sales continue to grow quickly in UK and US for 2018.
As 2017 came to an end, ecommerce sales had increased by 13% from 2016. This increase has largely been driven by consumers in both the US and China. In the US, 51% of Americans (with internet access) say they prefer to shop online, whilst 80% say they have made a purchase online in the last 30 days. Trends show that ecommerce continues to integrate into the everyday lives of the majority of US citizens, and this numbers will likely only increase as younger generations continue to integrate online activities into their everyday lives. In the UK, ecommerce accounted for a 19 percent share of total business turnover in the United Kingdom in 2015, equating to roughly 533 billion pounds. Demand among retailers for ecommerce website development is also at an all-time high.
2. High street retail still faces tough times.
2017 was not the most encouraging of years for the success of high street retail, particularly in the UK, with the Atlantic stating that the year was a “retail meltdown” for offline shopping. This, in part, has been fuelled by the rampant growth of Amazon with their sales in North America increasing from $16 billion to $80 billion in the space of 4 years alone. One reason for this is how consumers now feel more confident placing online orders for items that may have otherwise only really been (until now) more practical to purchase in physical stores – large furniture of delicate items, for example.
3. Online shopping bolsters UK consumer research
Price comparison and review aggregates have placed more power back into the hands of the consumer when it comes to finding the best prices and deals. In the UK, 80% of buyers still conduct online ecommerce research even when planning to buy an item in a physical store.
4. UK Ecommerce statistics 2018 reveal increasing demand for one-day shipping
Nearly two-thirds of online shoppers state they would like to receive products within a matter of hours after ordering. However, less than 33% are willing to pay extra for faster delivery. Both Amazon and Google now offer same day delivery on a wide variety of items. Interestingly, just under 50% of UK residents said they would be open to receiving items by drone. It is estimated there will be 600,000 commercial drones in use by the end of 2018.
5. Increasing numbers shop via mobile in UK, US and China.
UK ecommerce reports outline how security and convenience have previously put consumers off making purchases on mobile, though this trend is now set to change. In 2014, Mobile accounted for less than 12% ecommerce sales. According to Business Insider, this is set to increase to 50% by 2020. Ecommerce website development platforms (such as those offered by a Magneto Agency) have specific functionality to ensure websites are optimized for mobile, helping boost UK ecommerce sales.
6. Voice activation will play a bigger role going forward.
Amazon’s echo allows users to make purchases via voice command, potentially further tightening Amazon’s grip on online retail. It’s estimated that 50% of all searches online will be voice searches by 2020. It has been suggested that there will be 21.4 million smart speakers in the US by 2020. It is likely that these trends will also take place in the UK, though no official statistics have yet been released. A good Magento agency will be able to offer further consultation on voice commands.
The growth of UK online shopping has been exponential, but as ecommerce continues to evolve, many challenges still lie ahead for both retailers and consumers alike. To recap:
- Ecommerce will continue to grow
- The high street will likely face more issues
- In the UK, 80% of buyers still conduct online research before purchasing
- 66% state they would like to receive products within a matter of hours after ordering
- Purchases by mobile set to increase to 50% by 2020
- Estimated that 50% of all searches online will be voice searches by 2020