DUBLIN–(BUSINESS WIRE)– 
As of Q3 2023, over 60% of UK internet users will shop online every week
The UK B2C E-commerce Market Insights and Online Payment Trends 2024 report provides a comprehensive overview of the digital commerce landscape and emerging payment trends in the UK. The report takes an in-depth look at various aspects of the market, including social commerce trends, the B2C e-commerce delivery landscape, key market players, the role of AI in enhancing consumer experience, and evolving online payment methods.
Overview of the UK B2C e-commerce market
The UK retail e-commerce market has experienced significant growth and is on a robust growth trajectory, forecast to reach triple digits of €1 billion by 2027. B2C e-commerce is set to account for more than a third of total retail sales by 2024, reflecting an increasing shift towards online shopping.
AI in B2C e-commerce and online payments
Adoption of AI technology is progressing but still at a moderate level in the UK: As of 2024, around a third of UK shoppers see the benefits of AI in improving order accuracy and delivery updates, highlighting its potential to enhance the online shopping experience.
The current state of online payments
The UK online payments sector is undergoing a major transformation with the introduction of digital wallets, customised payment solutions for SMEs and the integration of cryptocurrencies. Leading payment methods such as PayPal and Apple Pay are preferred for online transactions by a significant share of UK adults and have established their presence in the market.
Answers to your main questions:
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In 2024, how many UK shoppers under 45 are estimated to be using social media platforms for product research purposes?
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Which online payment method will be most widely adopted in the UK in 2024?
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What proportion of total UK retail sales is B2C e-commerce expected to be in 2024?
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How big do you expect click and collect sales to be in the UK by 2026?
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As of April 2024, which is the most visited retail website in the UK based on monthly traffic?
Key topics:
1. Key Points
2. Management Overview
3. United Kingdom
3.1 Overview of the B2C e-commerce market
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Retail E-commerce Sales (USD Billion, YoY Change, 2021-2027 Forecast)
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B2C e-commerce as a percentage of total retail sales, projected for 2023 and 2024
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Online food retail as a percentage of total food retail, March 2022* and March 2023
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Year-over-year change in cross-border retail e-commerce shoppers (%), 2020-2025 forecast
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Most popular activities on mobile devices (percentage of respondents, 2022)
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Percentage of Adults Who Made a Purchase Using a Mobile Phone or the Internet (by Gender, %), 2022
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Weekly online shopping activity in Q3 2023 (% of internet users)
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Drivers of Online Shopping (% of Internet Users, Q3 2023)
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Top channels for online brand research in Q3 2023 (% of internet users)
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Top Activities Consumers Use Retailer Mobile Apps for (Percentage of Respondents, February 2023)
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Percentage of shoppers using digital and physical touchpoints in the same customer journey (%, forecasted 2024)
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Percentage of respondents most concerned about sustainability in non-food retail (2024 estimate)
3.2 Social Commerce
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Channels Used for Product Research and Inspiration (% of Shoppers, 2024 Forecast)
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Social Buyers (millions) and % Change YoY, 2021-2025 (forecast)
3.3 B2C e-commerce delivery market
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Most Preferred B2C E-Commerce Outdoor Return Points (% of Shoppers, Estimated 2024)
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Percentage of B2C Ecommerce Shoppers Expecting Free Returns (%, 2023 and 2024 Estimates)
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Click and collect sales (GBP billion) and share of retail e-commerce sales (%) (2020-2026 forecast)
3.4 B2C E-commerce Players Overview
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Most funded startup sectors by VC investment (2024 Estimated, US$ Million)
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Top B2C E-commerce & Shopping Website Rankings, Percentage of Total Traffic Share, April 2024
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Top B2C E-commerce Marketplace Website Rankings, % of Total Traffic Share, April 2024
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Top Retail Websites in April 2024 by Visits (Millions), Bounce Rate (%), and Pages per Visit
3.5 Use of AI in B2C e-commerce and online payments
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Overview of AI Use in B2C E-commerce and Online Payments, May 2024
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Benefits of AI in B2C E-commerce Delivery (% of Shoppers, Estimated 2024)
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Percentage of organizations planning to adopt AI (December 2023)
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Adoption of AI Solutions by Type (Total Adoption Rate, May 2024)
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AI Adoption Rate by Sector in May 2024
3.6 Online Payment Market Overview
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Online Payments Market Trends, May 2024
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Percentage of adults who will have made a digital payment in 2022 (by gender, %)
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Most popular payment methods for online purchases (% of adults, February 2024)
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Payment Method Breakdown for B2C E-commerce (% of Total B2C E-commerce Transaction Value, 2022)
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Online card spend and contactless card spend March 2022-March 2023 (£ million)
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Online and contactless card payment transaction volume (millions), March 2022 – March 2023
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Percentage of Mobile Wallet Users Who Made a Purchase Through a Retailer's Built-in Mobile App in the Past Year, 2023 Forecast
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Open Banking Market Overview, May 2024
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Percentage of SMEs planning to increase their use of embedded financial services products in the next 12 months, March 2023
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Top benefits of embedded finance (percentage of small businesses, March 2023)
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Percentage of Respondents Who Used eCash in the Last 12 Months and Listed It as Their Preferred Online Payment Method, April 2023
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Percentage of online purchases paid for using BNPL services, January 2022 and January 2023
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Percentage of respondents who agree that biometric authentication will become widely used for payments (2025 forecast)
Company Scope:
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Aliexpress
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Amazon
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apple
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Argos
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Asda
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BBC Good Food
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boots
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Currys
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Handmade
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Ebay
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Ötzi
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Google
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Hot UK Deals
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IKEA
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John Lewis
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Next
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PayPal
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Sainsbury's
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Samsung
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Screwfix
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Shane
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stripe
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Tesco
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yodel
For more information on this report, please visit: https://www.researchandmarkets.com/r/5u9be1
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