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

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

  • July 2016
  • 31 pages
  • ID: 4012198
In this report:
The market is expected to record strong growth in the coming five years, with a forecast compound annual growth rate (CAGR) of ##.##%.
The mobile commerce market has not yet reached the same level of maturity as e-commerce in the UK, and so is expected to grow at a more rapid pace over the next five years.

Summary

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Brief

The online shopping market in the United Kingdom (UK) is the biggest in Europe and one of the most important worldwide. The industry has reached a high level of maturity, although increase is still anticipated to be strong over the next five years, especially in mobile commerce as consumers become more accustomed to using mobile devices to shop online.

Main highlights

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

- Online retail returns will grow 50.0 percent in value between 2015 and 2020.

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

Abstract

Using a combination of data from Verdict Retail and Verdict Financial, this industry report offers 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 biggest shares of the global market.

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

- Examines the main merchant segments and payment tools used by consumers, and identifies the top drivers of consumer choices when buying online.

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

Great reasons to purchase

- Distinguish the size of the UK online payments market fully with this exhaustive look at the sector.

- Find out the main barriers to online shopping in the United Kingdom (UK) and how they may be overcome.

- Comprehend 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.

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