According to the publisher, the conversational commerce industry in United Kingdom is expected to grow by 29.0% on annual basis to reach US$74.5 billion in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 25.5% during 2022-2028. The conversational commerce transaction value in the country will increase from US$74.5 billion in 2023 to reach US$231.9 billion by 2028.
The conversational commerce industry is gaining rapid growth momentum in the United Kingdom market. An increasing number of Brits are willing to receive text messages from the brands. Consequently, more and more retailers are seeking to incorporate conversational commerce sales channels into their marketing mix. This trend has resulted in a high-growth environment for conversational commerce tool providers in the United Kingdom.
Attentive, since launching its services in the United Kingdom in April 2022, has reported strong growth and traction among brands. HYPE, Astrid & Miyu, and Moda in Pelle are among the hundreds of brands that are using the conversational commerce capabilities offered by Attentive in the United Kingdom. Overall, the industry is poised to record strong growth, as more and more retailers and brands flock to conversational commerce capabilities to boost customer engagement and revenue growth.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 25.5% during 2022-2028. The conversational commerce transaction value in the country will increase from US$74.5 billion in 2023 to reach US$231.9 billion by 2028.
The conversational commerce industry is gaining rapid growth momentum in the United Kingdom market. An increasing number of Brits are willing to receive text messages from the brands. Consequently, more and more retailers are seeking to incorporate conversational commerce sales channels into their marketing mix. This trend has resulted in a high-growth environment for conversational commerce tool providers in the United Kingdom.
Attentive, since launching its services in the United Kingdom in April 2022, has reported strong growth and traction among brands. HYPE, Astrid & Miyu, and Moda in Pelle are among the hundreds of brands that are using the conversational commerce capabilities offered by Attentive in the United Kingdom. Overall, the industry is poised to record strong growth, as more and more retailers and brands flock to conversational commerce capabilities to boost customer engagement and revenue growth.
European video e-commerce platforms are launching video shopping services in the United Kingdom
Live streaming and shopping are still in the early stages of development in the United Kingdom. However, the market is projected to grow at a steady rate over the next five years, as consumers are looking for a more interactive and enhanced shopping experience. To capitalize on the high-growth potential, European video e-commerce platforms are launching their services in the United Kingdom.- In November 2022, Voggt, the European provider of video shopping services, announced that the firm is launching its video e-commerce platform in the United Kingdom. This will enable Brits to shop and collect comic books, sports memorabilia, playing cards, fashion products, and sneakers, among others.
TikTok is conducting conversational commerce events to support sales growth for small and medium-sized businesses in the United Kingdom
To drive sales for small and medium-sized businesses, who have been struggling to drive the macroeconomic environment, conversational commerce providers are running campaigns to aid sales and revenue growth in the United Kingdom.- In November 2022, TikTok, one of the leading players in the conversational commerce industry, announced that the firm is running a campaign through TikTok Shop for supporting small and medium-sized businesses in the country. Through live shopping sessions, TikTok sold several products across different categories, including beauty, home, leisure, fashion, and electronics, from November 21 to November 28.
- The move and campaign from TikTok came after the firm revealed that 80% of consumers are likely to buy products from social platforms if they watch the live stream or participate in conversational commerce. Some of the brands that participated during the event include Pink Honey, Sumayah, MadeByMitchell, Maters And Co, and Wax And Unwind, among others.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Scope
This report provides in-depth, data-centric analysis of conversational commerce in United Kingdom. Below is a summary of key market segments:United Kingdom Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
- Transaction Value
- Transaction Volume
- Average Value Per Transaction
United Kingdom Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- AI-Based Virtual Assistants
- Non-Intelligent Chatbot
United Kingdom Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- Chatbots
- Digital Voice Assistants
- OTT Messaging
- RCS Messaging
United Kingdom Conversational Commerce Industry Market Size and Forecast by Chatbots
- Web-Based
- App-Based
United Kingdom Conversational Commerce Industry Market Size and Forecast by Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
United Kingdom Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
- Retail Shopping By Chatbots
- Travel & Hospitality By Chatbots
- Online Food Service By Chatbots
- Media and Entertainment By Chatbots
- Healthcare and Wellness By Chatbots
- Financial Services By Chatbots
- Technology Products and Services By Chatbots
- Other Sectors By Chatbots
- Retail Shopping By Digital Voice Assistants
- Travel & Hospitality By Digital Voice Assistants
- Online Food Service By Digital Voice Assistants
- Media and Entertainment By Digital Voice Assistants
- Healthcare and Wellness By Digital Voice Assistants
- Financial Services By Digital Voice Assistants
- Technology Products and Services By Digital Voice Assistants
- Other Sectors By Digital Voice Assistants
- Retail Shopping By OTT Messaging
- Travel & Hospitality By OTT Messaging
- Online Food Service By OTT Messaging
- Media and Entertainment By OTT Messaging
- Healthcare and Wellness By OTT Messaging
- Financial Services By OTT Messaging
- Technology Products and Services By OTT Messaging
- Other Sectors By OTT Messaging
- Retail Shopping By RCS Messaging
- Travel & Hospitality By RCS Messaging
- Online Food Service By RCS Messaging
- Media and Entertainment By RCS Messaging
- Healthcare and Wellness By RCS Messaging
- Financial Services By RCS Messaging
- Technology Products and Services By RCS Messaging
- Other Sectors By RCS Messaging
United Kingdom Conversational Commerce Industry Market Size and Forecast by Organization Size
- Large Enterprise
- Medium-Sized Enterprise
- Small Enterprise
United Kingdom Total Spend on Conversational Commerce Market
United Kingdom Conversational Commerce Industry Market Size and Forecast by Spend on Application
- Software Application
- IT Services
- Consulting Services
United Kingdom Conversational Commerce Spend on Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
Reasons to buy
- In-depth Understanding of United Kingdom Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast in United Kingdom.
- Insights into Opportunity by end-use sectors: Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Insights into Opportunity by products: Get market dynamics by key products of conversational commerce.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities.
- Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of conversational market opportunities in United Kingdom.
Table of Contents
1. About this Report
2. United Kingdom Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3. United Kingdom Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
4. United Kingdom Conversational Commerce Industry Market Size and Forecast by Product Offering
5. United Kingdom Conversational Commerce Industry Market Size and Forecast by Chatbots
6. United Kingdom Conversational Commerce Industry Market Size and Forecast by Sector
7. United Kingdom Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
8. United Kingdom Conversational Commerce Industry Market Size and Forecast by Organization Size
10. United Kingdom Conversational Commerce Industry Market Size and Forecast by Spend on Application, 2019-2028
11. United Kingdom Conversational Commerce Spend on Key Sectors, 2019-2028
12. Further Reading
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 74.53 Billion |
| Forecasted Market Value ( USD | $ 231.86 Billion |
| Compound Annual Growth Rate | 25.4% |
| Regions Covered | United Kingdom |
