By Philipp Denisov, CEO of BRANDQUAD
With its 27% growth, the UK e-commerce market has significantly contributed to the global growth rate of the industry. A growth that should continue over the coming years.
With a turnover of around 105 billion dollars in 2020, the United Kingdom is the fourth largest e-commerce market. Those figures place it ahead of Germany and behind Japan. Following the increase in online sales fuelled by the 2020 lockdown, British consumers are expected to further increase their spending. Indeed, new data forecasts £ 120.48 billion in online purchases by the end of 2021 and the first quarter of 2022.
During the turbulent 2020, online sales in the UK have seen a significant increase of 46.5%, with UK consumers spending £ 110.6 billion online. Despite the reopening of physical stores in April 2021, a further increase of £ 10 billion (9%) is expected for online sales in 2022.
Analysis of the UK retail market: a growing market
The biggest player in the UK e-commerce market is amazon.co.uk. The online store achieved US $ 14.7…
