The ecommerce market is one of the fastest growing entities in the UK, with 53% of customers preferring this channel dues to the cost savings available to them.
Make no mistake; Brits’ love of online shopping is also driving exponential growth in the courier and express delivery sector, which has enjoyed double-digit growth over the course of the last few years. This peaked at 12% in 2017, as the total value of the market reached an impressive £12.6 billion in the UK.
Over the next few years, the market for courier and express delivery is anticipated to maintain double-digit growth and rise by 54% between now and 2023. We’ll explore this further below, whilst asking what other trends will impact on the market in the future.
An Eye on Same-day Delivery – How it’s set to Revolutionise the Consumer Marketplace
As we’ve already said, recent growth in the courier sector has been largely underpinned by the introduction of express and next-day delivery options.
In the near-term, however, it’s same-day delivery that’s beginning to take centre stage, with market-leading ecommerce brands such as Amazon already blazing a trail in this respect.
This is something that smaller firms are struggling to implement, however, despite the obvious demand that exists amongst customers. Although a staggering 72% of UK consumers have confessed that they’d shop more if same-delivery was a shipping option, for example, just 15% of global retailers (including those in the UK) offer this as an option.
It should, therefore, come as no surprise that businesses who are able to offer same-day delivery could claim a competitive edge over a staggering 85% of their rivals, particularly if they’re able to develop this service without compromising on profitability.
As the integrated technology that allows same-day delivery becomes increasingly accessible and affordable, however, this is now something that even smaller ecommerce ventures can capitalise on in the future.
This is borne out by the statistics too, with the same-day delivery market in the States set to enjoy a compound annual growth rate of 154% in the next five years (whilst setting an example for businesses in the UK to follow).
What Other Trends are Influencing the Parcel Courier Market in the UK?
With next and now same-day deliveries helping the parcel courier market to achieve consistently high growth rates, there’s no doubt that they represent the most influential trends within the sector.
This is part of a wider trend, however, as the market continues to benefit from a growing range of delivery options that suit a wide selection of budgetary constraints.
In this respect, economy parcels are also benefitting from growing levels of demand, as this offers an option for customers who prioritise savings over an expeditious delivery (which as we’ve already explained covers a large number of consumers).
Online hubs such as Parcel2Go have also emerged as the market has diversified, offering customers an opportunity to seek out real-time quotes from the market-leading couriers.
This type of service is becoming increasingly popular amongst shoppers, as they can compare their options and filter these based on the budgets and expectations.