The UK is the fastest growing and most developed ecommerce market to date. Now more online retailers are planning to accelerate their growth by expanding their businesses overseas.
But is this what everyone should do?
Britain Makes the Most Online Sales
Britain’s success in the ecommerce market is being largely driven by its compact size, making delivery more cost-effective and having high internet penetration. The United States may have the biggest ecommerce market by absolute turnover, but Britain makes up a larger proportion of internet sales (11% in 2013 compared to 7.3% in the US.)
British retailers have experienced huge success abroad including clothing retailer Next, who deliver to 60 countries from a UK warehouse, experienced 86% growth of online sales last year and are expecting it to rise a further 50% in 2014 to £150 million.
UK retailers are beating competition because they offer
- A wider choice
- Competitive prices
- Quick and reliable delivery
In 2012 British retailers made £4 billion worth of sales but this is predicted to increase to £28 billion by 2020.
In just the first quarter of 2014 there was a 13% rise in overseas customers browsing for UK apparel, with the growth strongest in China, Germany, France and Russia.
With the state of the ecommerce market in this country, the popularity of online shopping and interest coming from overseas, ecommerce businesses are in prime position to retail their goods abroad, even from just a single warehouse in Britain.