Market Drivers
One of the major drivers fuelling the growth of the UK fashion ecommerce market is the increasing penetration of internet and smartphone usage. UK has achieved almost universal internet access in both urban and rural areas. As more people go online regularly using their mobile devices, they are opting to shop fashion products from the convenience of digital platforms. This widening of the online customer base continues to drive the growth of the UK fashion ecommerce sector.
Current geopolitical situations impacting the UK Fashion Ecommerce Market
The ongoing Russia-Ukraine war and rising inflation is negatively impacting the UK Fashion Ecommerce Market Demand. Sanctions on Russia due to the war is hindering international trade and commerce. Rising energy and commodity prices along with supply chain disruptions due to the war is fueling inflation in the UK. High inflation is reducing consumer purchasing power and spending on non-essential items like fashion products. This will adversely impact the market revenues over the forecast period. However, investments in omni-channel operations, sustainability, and AR/VR technologies can help online fashion retailers to regain customer confidence and accelerate their growth. Regional expansion especially in emerging Asian markets and strategic partnerships can also enable companies to mitigate risks from geopolitical uncertainties.
Geographical concentration of UK Fashion Ecommerce Market
In terms of value, London and Southeast England accounts for the largest share of the UK Fashion Ecommerce Market currently. This region has the highest population density and wealth levels in the country which drives high demand for fashion products. Major cities like London, Manchester, Birmingham have a young, affluent population who are technologically savvy early adopters of online shopping. Established transportation and logistics infrastructure in this region also facilitates fast delivery of online orders. However, with rising internet penetration and online shopping adoption, regions like Scotland, Wales and Northern England are showing high growth potential for the market over the coming years.
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