UK Watch Industry and eCommerce Market: Worldpay Reviews
Are you interested in the UK’s watch industry? Are you looking for Worldpay reviews? Where to find answers to these questions? The answers are below. Just keep on reading the post.
UK eCommerce Market
The UK eCommerce market is Europe’s strongest and the world’s 3rdlargest eCommerce market. The digital buyer penetration in the UK is the highest in Western Europe, accounting for 86%.The UK eCommerce market made up $166 billion as of 2017. Accessories represented 38% YoY (year-over-year) growth.
eCommerce sales make up only 14% of all retail sales in the country. The UK eCommerce sales were forecast to see 14% growth in 2017.
Online retail has witnessed 16.8% year-over-year growth during the 1sthalf of 2018. By the way, in the 1sthalf of 2018 (H1), e-retail registeredthe highest average YoY growth since 2011, which wasabove the 5-year-average of 14.1%.
Some sectors, such asgarden, clothing, and beauty, took advantage of the unpredictable weather this year. When it comes to the watch industry, it has underperformed in comparison. The market’s growth was evaporating in the 1st 6 months of 2018, based on GfK.
Though the UK online retail has been growing impressively, conversion rates for online retailers fell every month other than May. This could be caused by the ongoingtrend of online shopping via smartphone devices.
It’s important to note that eCommerce represented a 19% share of total business turnover in the UK in 2015. As of 2015, 80% of UK internet users did online shopping, which was the highest online shopping penetration rate in Europe.
UK Watch Industry:Worldpay Review
Britain’s booming watch market has been witnessing slower rates of growth since April 2017. However, it continues to outcompete the wider retail sector as the watch market endured strength of luxury sales.
Based on the data from retail analyst GfK, the value of sales for watch priced at over £1000 rose by 10.8% in June. In comparison, the sub-£500 watch segment is continually becoming less strong,with the YoY sales value drop by nearly 10%.
Sales for cheaper watches have been declining every month since August 2016, when WatchPro first started tracking the market using GfK data.
Are you a merchant involved in the UK watch industry? Do you need Worldpay reviews? Well, there’s nothing challenging if you work with a payment expert in the UK that can help you get the best deal for your business.
A respectable comparison company will offer you Worldpay reviews and help you get the best merchant services in your field. So, turn to an experienced and reliable merchant services comparison company in the UK that’s ready to offer youfree consultation, reviews of contracts, rates, and fees.
Also, make sure the comparison company offers the most honest snapshot of the company at the time of writing. What is more, find out whether the company checks each processor’s integration process or not, since only the right integration process can ensure a smooth transition and onboarding process for you.
Author Bio: Payment industry expert Taylor Cole is a passionate merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry, including Worldpay reviews, has helped thousands of business owners save money and time.