The UK quick e-commerce market refers to online shopping platforms that enable consumers to order and receive products within a few hours. These platforms allow customers to order groceries, medicines, electronics and various other daily need products online and receive doorstep delivery on the same day. The convenience of quick shopping through digital platforms is driving huge demand, especially among younger consumers who have fast-paced lifestyles.
The UK quick e-commerce Market is estimated to be valued at US$ 7.16 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to provide quick shopping convenience lies at the heart of the growth in the UK quick e-commerce market. Younger consumers now expect the same swift shopping experience online that they receive from apps on their smartphones. Whether it is grocery items running out unexpectedly or last-minute gifts for friends, the ability to order and receive products within hours through quick commerce platforms is fulfilling an emerging consumer need for instant gratification. This consumer behaviour driven market opportunity is estimated to boost the UK quick e-commerce market significantly in the coming years.
Porter's Analysis
Threat of new entrants: The UK quick E-commerce market has medium threat of new entrants due to large number of national and international retail giants already operating in the country. However, barriers to entry are low due to e-commerce platforms and logistics networks.
Bargaining power of buyers: Buyers have high bargaining power due to large number of retailers and options available online. Buyers can easily compare prices and switch between retailers.
Bargaining power of suppliers: Suppliers have low bargaining power as there are numerous suppliers for each product category and retailers can switch between suppliers easily.
Threat of new substitutes: Threat of substitutes is medium as physical retail stores and other online retailers offer substitute products and services.
Competitive rivalry: Competition is high among existing players to gain market share.
SWOT Analysis
Strength: Established infrastructure, strong supply chain networks, variety of product categories.
Weakness: Low customer loyalty, costly marketing & promotions, price wars with competitors.
Opportunity: Untapped rural markets, growing smartphone & internet penetration, multi-channel retailing.
Threats: Regulations around data privacy, tech innovations disrupting retail, macroeconomic uncertainties.
Key Takeaways
The UK quick e-commerce Market Size is expected to witness high growth over the forecast period of 2024-2031. Strong digital infrastructure, widespread adoption of smartphones and rising internet penetration are supporting the growth of online shopping in the country. The UK quick e-commerce Market is estimated to be valued at US$ 7.16 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.
Regional analysis: The UK dominates the quick E-commerce market in Europe. Growing penetration of internet and smartphones, higher disposable incomes in major cities like London has increased online shopping in the UK. Southeast regions like London experience fastest growth rates.
Key players: Key players operating in the UK quick E-commerce market are Allergan (Acquired by Abbott), Apollo Endosurgery, Reshape Medical, Helioscopie Medical, Spatz FGIA, Endalis, Districlass Medical, Lexal, Medicone, Obalon Therapeutics, Silimed, Medsil, ReShape Lifesciences, EndoArt, MedSil, Silimed and Medsil. Platforms like Amazon, ASOS, eBay, Ocado have established strong presence in the UK market.
Get More Insights Here
https://whotimes.com/fabricating-sustainability-geotextile-weaving-a-greener-future-for-the-planet/
https://www.trendingwebwire.com/uk-quick-e-commerce-market-size-share-growth-outlook-2023/
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