The turnover in the UK retail sale via mail order houses or via internet sector saw a significant increase from 19.06 billion pounds sterling in 2013 to 42.35 billion pounds sterling in 2023. Year-on-year variations indicate substantial fluctuations, with notable growth in years such as 2018 (52.23%) and moderate growth or declines in certain years (e.g., 2016 at -21.23%). In 2023, the turnover value stood at 42.35 billion pounds sterling, reflecting a 4.28% increase from the previous year. The Compound Annual Growth Rate (CAGR) over the last five years is 6.74%, suggesting steady expansion.
Future projections for the sector are optimistic, with a forecasted CAGR of 2.74% over the next five years, leading to an anticipated value of 50.61 billion pounds sterling by 2028. The overall five-year growth rate is predicted at 14.46%, indicating continued but moderate growth.
Future trends to watch for include:
- The impact of technological advancements on e-commerce efficiency and customer experience.
- Shifts in consumer behavior towards online shopping post-pandemic.
- Expansion of omnichannel retail strategies integrating online and physical retail spaces.
- Developments in sustainable and eco-friendly packaging and delivery systems.