Combining both consumer and market data with Verdict's unique insights, e-retail is essential reading for any business with an interest in the online channel. It provides thorough analysis of this rapidly growing market, with forecasts to 2018.
With online expenditure set to hit £50.2bn by 2018, this report analyses the key drivers of growth, future trends and opportunities, and makes recommendations based on the findings. Utilise additional data on click & collect, returns and the customer shopping journey to help understand the future of e-retail and where opportunities lie over the next five years.
The value of online retail grew at a rapid pace from 2008 to 2012, and while growth will slow as the channel matures, it continues to represent a major opportunity for retailers. It is predicted to outpace growth in total retail every year during 2013-18, resulting in online expenditure increasing from £33.7bn to £50.2bn.
Despite tablet technology being relatively new, in 2012 it represented a higher proportion of online expenditure than mobile phones (11.7% versus 6.0%). 2012 saw a deluge of cheaper tablet devices come onto the market, which, along with the popularity of the iPad, resulted in a rapid increase in tablet penetration.
The living room is becoming a key location for retailers to target shoppers, as 67.2% of all online shoppers who are making a purchase from their home are making the transaction from their living room. The living room is not only where most will watch TV, but also where most will engage with their laptop, tablet or mobile phone to shop.