Home Finance Online Home Deliveries to Add £20 Billion More to the UK Market By 2025 – Yahoo Finance

Online Home Deliveries to Add £20 Billion More to the UK Market By 2025 – Yahoo Finance

0
Online Home Deliveries to Add £20 Billion More to the UK Market By 2025 – Yahoo Finance

The Consumer Price Index (CPI) registered a 7.5% annual gain in January.
New research from Metapack highlights the impact of COVID-19 amid home working shift
LONDON, February 10, 2022–(BUSINESS WIRE)–UK retailers are bracing for an additional £19.6 billion of online home deliveries by 2025 as a result of the pandemic, new research from ecommerce delivery technology leader Metapack in partnership with research consultancy Retail Economics suggests. This comes as online is expected to account for 49.7% of total non-food sales by 2025 amid persistent home working.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220210005073/en/
Figure 1: Online expected to account for half of UK non-food sales by 2025. Source: Retail Economics
Permanent shift online
Metapack’s new Ecommerce Delivery Benchmark report shows that 27.3% of UK consumers now expect to permanently shift more of their shopping online on the back of new behaviours formed since the pandemic.
A new wave of ‘digital shifters’ (the consumer cohort permanently switching to shopping more online) is expected to support an additional £22.4 billion in online sales compared to a scenario where the pandemic had no impact on shopping behaviours. This acceleration online is projected to lead to £19.6 billion of additional sales going through home deliveries alone by 2025, compared to a scenario where the pandemic had no impact.
However, the lasting impact of COVID-19 will not be felt equally across all retail categories. The research predicts that apparel, homewares and health & beauty will experience a greater permanent shift online, brought about by online discovery since the pandemic.
A consequence of the shift online means that 35.8% of UK consumers expect to visit physical stores less in the future, ahead of those expecting to cut back in the US (28.7%), Germany (20.8%) and France (17.2%).
Working from home disrupting retail
Disruption is being felt by consumers working from home – driving both an uplift in online spend and putting pressure on footfall to stores.
A quarter (24.8%) of UK consumers work from home more since the pandemic, of which half (50.6%) expect to shop more online permanently (denoted in green dots in figure 2), compared to around a quarter (27.1%) of those whose place of work has not been impacted from the pandemic (shown in red dots in figure 2).
As more consumers work from home, it has boosted the success rate of first-time deliveries and opened a much larger number of possible delivery slots. By 2025, UK home workers expect their proportion of online orders delivered to their home to rise by 11.5%, compared to an average of 7.5% among those that haven’t faced change in their work.
New wave of online shoppers demand speed
The report delves into key consumer types and finds that the new wave of online shoppers is more demanding of speed of delivery when considering their most important factors. Across the markets analysed, 37.5% of ‘digital shifters’ value speed ahead of convenience, cost and carbon footprint of deliveries.
Duncan Licence, VP of Global Product at Metapack says: "Driven by the pandemic, online consumer shopping expectations have changed significantly over the last few years, and a lot of these changes are here to stay. Our new report takes a closer look at these developments and their lasting impact on both consumers and retailers. It is expected that, as home working becomes the norm for more and more people, their appetite for fast, convenient, and easy deliveries that fit their lifestyle, will continue to increase. Retailers have reached a crossroads, they need to diversify their delivery options and invest in the right infrastructure and technology to meet the new needs of their consumers, or they will struggle to compete, especially as the shopping experience becomes synonymous with the delivery experience. The retail industry has evolved beyond bricks and mortar, it’s time to step into the age of ecommerce."
Richard Lim, Chief Executive of Retail Economics says: "A permanent shift in consumer behaviour and vast investment across the ecommerce ecosystem has accelerated the shift to online. Structural changes in the labour market, with persistently higher levels of home working across households, has unlocked greater demand for home deliveries. Although the demand for speed will put pressure on supply chains, home workers have both a greater ability and greater willingness to pay for delivery and returns compared to average online shoppers, which is critical for profitability amid rising costs and elevated customer expectations."
NOTES TO EDITORS
Express permission is granted for a link to Metapack and Retail Economics to be included in online news articles, blogs and posts.
https://www.metapack.com/
https://www.retaileconomics.co.uk/
Research methodology
Research findings were supported by nationally representative consumer panels across four countries including the US, UK, France and Germany. The sample comprised more than 6,000 consumers, with survey data collected in November 2021 and analysed by Retail Economics. Market intelligence and forecast data has been modelled by Retail Economics.
For more information please contact: Amy Yates (amy.yates@retaileconomics.co.uk)
About Metapack
Metapack helps ecommerce and delivery professionals meet consumers’ growing expectations of delivery, while maintaining and optimizing operational efficiency. Metapack’s solution offers a wide range of personalized services, from delivery options to tracking and returns, through a catalogue of 400+ carriers and 4,900+ services available that span every country in the world. Thanks to Metapack, more than 550 million packages are sent annually by many of the world’s leading ecommerce retailers. Metapack is a member of the Auctane family of companies and is headquartered in London. Auctane brands include ShipStation, Stamps.com, Packlink, ShippingEasy, ShipWorks, ShipEngine, Endicia, Shipsi, GlobalPost and Metapack, with offices in El Segundo, Austin, London, Madrid, Sunnyvale, Zielona Gora, Atlanta, and St. Louis. Find out more at www.metapack.com.
About Retail Economics
Retail Economics is an independent economics research consultancy focused on the consumer and retail industry. We provide independent thought leadership on major economic and retail trends and analyse their impact on the industry.
Retail Economics provides proprietary data on sector growth, behavioural trends, channel performance and forecasts.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005073/en/
Contacts
Munveer Garcha
PR & Communications Manager, Metapack
munveer.garcha@metapack.com
BEIJING (Reuters) -China's cyberspace watchdog said a symposium it held with Chinese tech giants last month had given the industry a "clearer understanding" and more confidence in how to pursue development and opportunities as they adjust to a new regulatory landscape. The Cyberspace Administration of China said its official publication had carried out interviews with companies such as Tencent Holdings and Alibaba Group and TikTok owner ByteDance after the Jan. 28 meeting, which was held with 27 firms to discuss "healthy and sustainable" development. "Everyone agreed this symposium enabled internet firms to have a clearer understanding of the development situation, strengthen their confidence towards development and firmly grasp development opportunities," the CAC said on its official WeChat account.
Laid-off Peloton employees are posting testimonials on social media about their experiences at the company and sharing career details in efforts to find new employment after the fitness company slashed 2,800 jobs.
Bitcoin, the first and most popular cryptocurrency, is finite. What happens when it reaches its total maximum supply of 21 million bitcoins?
Some see Web 3.0 as the next generation of the internet, a decentralized version of the web based on the blockchain. Here are the key principles behind it, and why skeptics are unconvinced it could scale globally. Illustration: Amber Bragdon
Ro Khanna represents Silicon Valley is at the forefront of regulating Big Tech.
The costs of fast internet service in the U.S. are tumbling, according to a new study. They could fall further as the Biden administration deploys a $65 billion pot of federal funds to help connect more homes with fast and affordable service.
Microsoft has begun the search for a Director of Business Development to bolster the growth of its cryptocurrency and Web3 efforts.
Even after high-profile arrests, we don't have the full story behind the $4 billion crypto heist.
A key player behind decentralized applications on Ethereum and other chains continues to swell.
Ethereum (CRYPTO: ETH) is a cryptocurrency giant — and it's on its way to reshaping how business is done. Instead, the blockchain is in the middle of a major upgrade set to reduce congestion on the network and increase transaction speed. Two dynamic rivals are rising in the ranks — and both have what it takes to overtake Ethereum.
If you weren't already a fan of Amazon Prime before the pandemic, its free shipping in one or two days and access to Prime Video probably started looking pretty darn good a month or so into your first…
Rollups have seen significant adoption and are highlighting the demand for cheaper access to Ethereum.
Infecting a worker’s computer cloud system not only gives scammers access to confidential company information, it can also provide them with an opportunity to impersonate the worker using their professional email account. The phishing may start with an email designed to resemble a legitimate company, and contain a fake invoice or merely ask the recipient to review a document that looks like an HTML file, but is actually a downloadable PDF. A new report by Netskope, a software company providing computer security, looked at ways cybercriminals were gaining access to people’s work computer systems.
Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, is pleased to announce its first on-ramp implementation agreement to the DEX (decentralized exchange) space with KlimaDAO, a DAO (Decentralized Autonomous Organization) Protocol driving climate action through a carbon-backed, climate friendly digital currenc
(Bloomberg) — Bitcoin could be set to build on its recent rally. The world’s largest digital token posted a six-day winning streak through Tuesday, the 20th time it has achieved such a run since the pandemic roiled markets. The mean return over over three days, five days and 20 days is 4.1%, 5.3% and 18.5% respectively after such stretches, according to data compiled by Bloomberg. Most Read from BloombergAmazon Is Raising Base Salary Cap to $350,000 From $160,000Peloton’s Famous Instructors, Wh
Polygon stablecoin QiDAO was exploited for $13 million on Superfluid vested contract leading to a 65% drop in the price of QI token.
Meta renewed a warning to the EU that it will likely pull its "most significant products, including Facebook and Instagram" in Europe if the company cannot transfer data to the U.S. See: Zuckerberg…
Nomic Labs, creator of popular Ethereum developer tools platform Hardhat, is becoming a nonprofit with the goal of improving the protocol’s developer ecosystem, it announced today. Nomic, which first launched in 2018, is rebranding as the Nomic Foundation, and has already secured donations of $15 million out of its $30 million fundraising goal, CEO and co-founder Franco Zeoli told TechCrunch in an interview. The initial commitments came from the Ethereum Foundation, Ethereum co-founder Vitalik Buterin and a host of crypto exchanges and venture firms, including Coinbase, Consensys, Andreessen Horowitz, The Graph, Polygon, Chainlink, a_capital and Kaszek Ventures, according to Nomic.
A community of cryptocurrency enthusiasts, called friesDao, plans to buy at least one restaurant from a fast-food giant in the next 3-4 months.
Meta has been asked to implement tougher anti-doxxing policies on Facebook and Instagram after requesting the Oversight Board's advice.

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here