The UK has a total population of about 63 million and is a country with significant economic strength and influence. Its consumer market has the following characteristics.
(1) Although the consumer market is small, the e-commerce consumption capacity is strong
Although the UK has a relatively small population, its Internet penetration rate is high and the residents have a high level of consumption capacity. Relevant data show that more than 80% of British customers prefer online shopping.
According to data from the Retail Search Center, online sales in the UK accounted for 10.7% of total retail sales in 2014. When British people shop online, clothing and sports goods are the first choice, followed by travel and household goods.
(2) Major e-commerce platforms and major payment methods
The UK’s e-commerce platforms are mainly Amazon (16% market share), eBay (9% market share), Tesco (8% market share) and Argos. In the UK, credit cards are the most popular payment method for online purchases. In the UK, almost 40% of online transactions are paid by credit card. Since debit cards are available, more than 3 out of 10 online transactions are made using debit cards.