UK e-commerce GMV during the holiday season may reach 36.4 billion USD

uk ecommerce

The development of the British e-commerce market is very mature. Up to now, the GMV brought by the British e-commerce market has accounted for 30.9% of its entire retail industry this year, second only to China (41.2%). The UK’s logistics, delivery and warehousing Infrastructure and other aspects are relatively complete.

Bill Fisher, a senior analyst at eMarketer, said, “We expect that e-commerce GMV will increase by about 16.7% in the UK holiday season this year, and the logistics and delivery in the UK market seem to be ready for a busier holiday season than usual.”

Besides, some consumers have already started holiday shopping due to concerns about whether the goods can be received before Christmas.

And this year, Amazon’s “Black Friday in July“, also known as Prime Day, is again postponed to October 13-14, closer to the traditional year-end holiday shopping season. During Prime Day 2020, global retail e-commerce GMV will be around 7.76 billion pounds ($9.91 billion), of which non-US e-commerce GMV will be about 2.93 billion pounds ($3.74 billion).

Although the UK market is an integral part of the non-US Prime Day GMV, it is still slightly insignificant compared to the 28.51 billion pounds (36.39 billion US dollars) GMV generated during the UK holiday season. eMarketer predicts that this year’s global Prime Day GMV will increase significantly compared to 2019, and its growth will also provide other retailers with the motivation to catch up.

However, according to eMarketer’s research and statistical data, even though the GMV growth of holiday e-commerce has accelerated, this early shopping behaviour will slightly inhibit sales during the holiday season. The proportion of retail e-commerce GMV from November to December this year in the total GMV in the fourth quarter of 2020 may drop from 75.2% last year to 70.7% this year. The previous blockade brought about by the epidemic will have a more noticeable impact on the e-commerce market. This year’s holiday season, e-commerce GMV accounted for the proportion of the annual sales from 23.3% in 2019 to 20.2%, the lowest value since 2010.

However, these will not impact Black Friday, which will continue to be an important online shopping festival in the UK market this year. During this period, various sellers’ discounts are very attractive to British consumers with high-cost awareness. As a result, the GMV of each platform is expected to increase by about 16.7%. However, there are still clear signs that the attractiveness of these non-local promotions to consumers across the UK is declining. This year, their sales promotion effect may not be as apparent as in previous years.

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