The pandemic has accelerated the growth of ecommerce in the United Kingdom, with online sales increasing by 44 percent in 2020 and total online penetration reaching 26 percent, up from 18 percent pre-pandemic, according to CBRE.
According to the report, the largest growth in online penetration came from the younger demographic, with the 16-24, 25-34 and 35-44 age groups all reaching online penetration of 30 percent in 2020. However, every age cohort is expected to carry its online spend share into the future, with most age groups forecast to reach online penetration levels of circa 40 percent by 2030.
Higher online penetration is impacting the requirements for physical retail space, and the research shows a direct correlation between high online penetration levels and a reduction in physical store space. According to CBRE, overall retail space requirements in the United Kingdom are anticipated to decrease by up to 16 percent between 2021 and 2025.
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