The UK’s online retail market is set to grow 13 per cent in 2012 – cashing in a huge £77bn
The forecast further strengthens the UK’s position as a global leader in the market, second only to the US in terms of market value.
The market has exploded in recent years, with 30 per cent of all cross border trade in Europe, going through UK retailers.
John Andrews is Managing Director of Interactive Media in Retail Groups (IMRG). He said: “This means that British retailers export more than the rest of Europe’s e-retailers put together. It is a huge business – last year our research found that there were 228,000 UK online retail businesses now, that’s an estimated 30 per cent more than the year before.”
He added that this number was expected to double to 1.5 million by 2015.
Source: UK Trade & Investment
YBM Comment: The British dominance in online retail is good news. Many SMEs and Start-ups are growing their businesses online and this should be viewed as an opportunity, not a threat.