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 Kyiv National Economic University named after Vadym Hetman
Philipps-Universität Marburg

Home task №7

Discipline: International economy

E-Commerce & Online Auctions in the

world overall and in the UK
By 2nd year student, faculty of International Economics and Management
Kamenchuk Polina, group IE-210i
07.12.2022
 Overall information

E-Commerce & Online Auctions Industry Definition

Operators in this industry retail a wide variety of products via the
internet, mail order, TV and phone. Online auction sites are included,
but the sale of motor vehicles and motor vehicle parts is not covered.
The industry excludes sales made through bricks-and-mortar stores.
Purchased products can be either directly downloaded from the
internet or physically delivered to the customer.
● Industry Products and Services Overall information
● Clothing, footwear and accessories
● Consumer electronics
● Food, drink and groceries Industry Activities
● Sporting equipment, toys and ● Selling goods online
games ● Selling goods via mail order
● Cosmetics and fragrances ● Selling goods via online
● Home furnishing, decorations and auctions
other household goods ● Selling goods via phone and
● Digital music, e-books and other TV
products
● Delivery receipts
 Overall Market
Segmentation Analysis

By Product Type: The market report has segmented the global online
auction market into five segments on the basis of type: fine art, jewels
and watches, cars, decorative arts and furniture, and others. The fine
art segment held more than 55% of the share in online auction market
in 2021, owing to the growing number of end consumers adopting
online as their preferred channel.
 Overall Market
Segmentation Analysis
By Region: According to this report, the global market can be divided into five
major regions: North America, Asia Pacific, Europe, Middle East & Africa, and
Latin America. The fastest growing regional market is Asia Pacific, driven by the
three key drivers have been identified: sustainability, affordability, and
collectability, which continue to propel the demand for online auction in the
region. China continues to be the largest online auction market within Asia
Pacific, occupied more than 50% share in Asia Pacific, owing to the country's
transformation into a consumer economy based mostly on digital technology
during the previous two decades. Further, young, wealthy bidders and debt
transactions are pushing China's booming online auction market ahead.
 Overall Market Dynamics

Growth Drivers Challenges

● Rise in the Use of Internet for ● Security Concerns
Auction ● Auction Fraud
● Rapid Urbanization
● Surging Millennial Population
● Growing Recognition of NFT
Overall Market Dynamics
Market Trends
● Growing Popularity of Mobile Bidding
● Integration of Artificial Intelligence (AI)
● Growing Influence of Digital Marketing
● Cloud-based Live Streaming Online Auction
● Growth of GenZ Population
● Advancement in Augmented Reality (AR),
Virtual Reality (VR), and Mixed Reality (MR)
Technology
 Overall Market Key Players
● eBay Inc.
● Auction Technology Group PLC (LiveAuctioneers.com)
● Ritchie Bros. Auctioneers Incorporated
● Mortgage Specialists International, LLC (Auction Network)
● Invaluable, LLC (AuctionZip.com)
● Epiris LLP (bonham.com)
● Ebid.com
● OnlineAuction.com, Inc.
● WebStore.com
● The Auction Company (TAC)
● Catawiki
Market Size 2011–2022 in the UK
Industry Statistics
in the UK
 Market Forecast (2017-2022)
in the UK
● Significant grows
● Increased capabilities of online platforms have aided
online expansion
● Innovative purchasing methods and emphasis on a
personalised consumer experience have also raised
demand
● Industry revenue is expected to increase at a
compound annual rate of 11% over the five years
through 2022-23 to reach £54.4 billion
 Factors affecting
on the industry in the UK
The surge in online sales s expected to continue as many consumers
maintain online purchasing habits acquired over lockdowns.
The continued penetration of smartphones are expected to support revenue
growth.
Consumers' enduring preference for value and convenience is expected to
sustain industry demand.
Operators are anticipated to continue to invest in value-added services, with
innovations in payment and delivery options and the creation of more
personalised shopping experiences
Biggest companies in the in the UK
Top Websites E-Commerce &
Online Auctions Ranking
Sources
https://www.ibisworld.com/united-kingdom/market-research-reports/e-commer
ce-online-auctions-industry/

https://www.similarweb.com/top-websites/united-kingdom/category/e-commerc
e-and-shopping/auctions/

https://www.globenewswire.com/en/news-release/2022/09/28/2524181/28124/
en/Global-Online-Auction-Market-Report-2022-Integration-of-Artificial-Intellige
nce-Drives-Sector-Forward.html

https://www.sciencedirect.com/science/article/abs/pii/S1544612319309134