6 Important UK eCommerce Statistics to Help You Plan for 2023

Increasing numbers of consumers are shopping online, and 2023 stands to be a bumper year for the growth of online shopping in the UK.

In fact, a survey by Finder found that 87% of UK consumers now shop online, with 55% of them doing so at least once a week.

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, below, we will look at some important ecommerce website development statistics to help you plan for 2023.

ECommerce market size in UK

Did you know that online shopping is more popular in the UK when compared with any other country? In 2023, the UK has a predicted revenue of $166,707. The UK eCommerce market share is a significant one.

From now until 2027, the UK eCommerce market is expected to grow at a 21.76% CAGR.

This represents a significant and continued growth of the eCommerce market in the UK, driven by factors such as increasing smartphone and internet penetration, changing consumer behaviour, and the COVID-19 pandemic.

The eCommerce market in the UK is diverse, with a wide range of products and services available through online channels, including fashion, electronics, groceries, and more.

As the eCommerce market in the UK continues to grow, retailers must prioritise digital transformation and embrace emerging technologies to stay competitive and meet the changing needs and preferences of their customers.

ECommerce growth UK – Facts and stats

1. Ecommerce sales continue to grow quickly in UK and US for 2023

There are indications that the trend of rapid growth will continue in eCommerce. Here are some relevant online shopping trends statistics to consider:

• According to a report by eMarketer, UK retail eCommerce sales are expected to reach £295.58 billion ($392.51 billion) by 2025, up from £222.05 billion ($293.8 billion) in 2021.
• In the US, eCommerce sales are forecasted to reach $908.73 billion in 2023, up from $794.5 billion in 2020, according to a report by Statista.
• The COVID-19 pandemic has accelerated the growth of eCommerce, as more consumers turned to online shopping due to lockdowns and social distancing measures.
• Changing consumer behaviour and preferences, such as increased demand for convenience and personalised experiences, are also driving the growth of eCommerce. 

2. High street retail still faces tough times

According to a report by the British Retail Consortium, UK high street footfall decreased by 65.9% in 2020 compared to the previous year, due to the impact of the COVID-19 pandemic.

While there are indications that the retail industry is recovering from the impact of the COVID-19 pandemic, high-street retail still faces tough times in 2023. Here are some reasons why:

• Online competition – Online shopping continues to grow in popularity, with consumers choosing the convenience and ease of shopping from home. This has put pressure on traditional brick-and-mortar stores, which are struggling to compete with online retailers.
• Changing consumer behaviour – The pandemic has changed the way consumers shop, with many opting for contactless and online transactions. Even as restrictions ease, some consumers may continue to avoid high street stores, opting for online shopping instead.
• Economic uncertainty – The COVID-19 pandemic has caused significant economic disruption, leading to job losses and reduced consumer spending. This has had a negative impact on high-street retail, as consumers are cutting back on non-essential purchases.
• Business rates – High-street retailers are subject to business rates, which can be a significant cost burden. This has led to calls for reform of the system, as many retailers struggle to keep up with the costs of operating a physical store.

These factors suggest that high-street retail will continue to face tough times in 2023. However, there are opportunities for retailers that are able to adapt to changing consumer behaviour and preferences, embrace technology, and provide a seamless and personalised shopping experience. By leveraging emerging trends and technologies, high-street retailers can stay competitive and thrive in an increasingly challenging market.

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. According to a survey by RetailX, 94% of UK shoppers research products online before making a purchase.

4. UK eCommerce statistics 2023 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. 

5. Increasing numbers of people 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. This trend has clearly changed when looking at eCommerce mobile stats.

• In the UK, mobile devices account for 60% of all online shopping visits, according to a report by Nosto.
• In the US, mobile commerce sales are expected to reach $488.01 billion in 2024, up from $284.93 billion in 2020.
• In China, mobile shopping is particularly popular, with mobile commerce sales accounting for 73.6% of all retail ecommerce sales.

6. Voice activation will play a bigger role going forward

As per a survey by Adobe Analytics, 76% of smart speaker owners have used their device to make a purchase.

Amazon’s Echo is one of several devices that allows users to make purchases via voice command, potentially further tightening Amazon’s grip on online retail.

According to a report by Gartner, by 2023, the average person will have more conversations with bots than with their spouse. This suggests that the use of voice assistants and chatbots for shopping and other tasks is likely to become even more prevalent in the future.

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
• Voice search is flourishing

This blog post is Last updated on June 23rd, 2023.