Future of ONLINE SHOPPING in UK
As far as Online Shopping in UK is concerned, there is clear trend that those who resort to this new system of shopping will increase by 30 to 40 per cent in a period of 4 years. Remember, there was a delay of 2 to 6 years for people to shift to online shopping after getting acquainted to the internet. But the online system is gaining momentum in an unprecedented market reaction. In the early years only younger generation was using the online shopping services, but then came a remarkable change in the pattern of users. More and more people from older generation are getting attracted to the online shopping system.
According to reliable projections, by 2050 the retail marketing scene will undergo a thorough change in its form and magnitude, and the shopping in UK will evolve beyond recognition with high street dominating the field. Everyone will be online, every hour every day! It will become an automatic process and convert the high street to something like a gallery style showroom!
If the prediction becomes a reality, the Britons will be spending nearly 63 billion pounds for the online shopping. 860 million parcels will be shipped to the United Kingdom to serve 26 million internet shoppers. Each shopper will spend £ 2400 each on an average. The number of people using online shopping will exceed the predictions and projections, if the present trend is an indication to that. At present, 10 per cent of the total retail selling is through internet. It will go up to 20 percent in 3 years.
There will be a remarkable change in the composition of customers, patronising online shopping. Men and women of all ages and professions will adopt the new system for the advantages inherent in the online shopping. The older generation, will increasingly use the online shopping, to avoid the ordeals of travelling, searching and bargaining involved in the conventional shopping. It is easier, faster, safer and valuable, according to those who have changed over to the system. No doubt the online shopping will gain popularity and momentum in the coming years.
Globalisation of trade has given a new impetus to this new market initiative. The political borders are disappearing as far as trade and commerce are concerned. The online trading and international postal services are giving new thrust to economy. Cross border shopping is flourishing.
The internet has helped to widen the area of information much to the benefits of the customers. More accurate information is available now, about the companies, their products and services. The consumers are able to browse online catalogues and acquire vital information about a variety of goods displayed by several companies in their websites.
Regarding prices there is a distinctively clear advantage for the consumer. The absence of middle men in the online shopping system will permit the dealers to trim their profit margins in favour of the customer. There are many price comparison service providers who serve the consumer by providing product information and price advantages. Retailers also publish their price ranges in such websites. The shopping web portals are more than the online version of yellow pages. The price comparison services search and retrieve data directly from retailers and feed them to the consumers through the internet. A comprehensive list of retailers and detailed list of prices, are available with regular updating.
The future of online shopping in UK is bright and promising, thanks to the positive factors incorporated in the system.