Data: Online to eat up half of retail sales by 2028
Online shopping will account for more than half of all retail sales in the UK within the next 10 years, new research has predicted.
Ecommerce sales will gobble up 53% of the retail market by 2028, up from 19% currently, according to a report by Retail Economics and law firm Womble Bond Dickinson.
The research, titled The Digital Tipping Point, suggests the “digital retail-revolution is only just getting started”.
The forecast surge in online sales will be spurred by three main factors: the changing demographic of the UK adult population, the development of faster, cheaper, in-home deliveries and the declining number of physical stores.
Already have an account? Sign in here