20 July 2018

Overview on U.K’s online retail industry

Overview on U.K’s online retail industry

In the IT retail investment sector, E-commerce is given high priority and is at the top of the list for the next 3 years and the online sales is expected to increase by 40 percent in the near future, as per the latest updates given by ComputerWorld UK.

For most of the retailers in UK, mobile commerce (m-commerce) has become a common usage by making online transactions via smartphones and tablets. In 2012, m-commerce generated a revenue growth of 2.9 percent of the total sales, according to the survey. The survey also says that in the near future, the global retail sector will be completely based on Cloud Computing.

In UK, the online sales is expected to account for between 30 and 40 percent of total sales mainly for mass market and department stores in future, as per the survey of 150 leading UK retailers from retail consulting company Martec.

In general, the total revenue generated by the online retail sector is mainly due to sale of retail goods through online channels which are priced at retail selling price. Online retailing does not include travel and ticket bookings, online corporate purchasing, and online auction transactions.

In 2011, the global online retail sector had total revenues of $530.2 billion with a compound annual growth rate (CAGR) of 15.4% between 2007 and 2011. But by 2016, the global online retail sector is expected to reach $1,096 billion, with an increase of 106.7% compared to the revenue generated in 2011, as per the data given by MarketLine.

In the global online retail sector, Electronics is considered as the largest segment which generated a total revenue of $119.2 billion, equivalent to 22.5% of the sector’s overall value in 2011. Between the period 2011-2016, online electronics sales is forecast to reach 15.6% which will in turn increase the revenue of online retail sector to a value of $1,096 billion by 2016.

Among all other countries in the world, the online retail sector of Americas accounts to 39.3% of the global online retail sector value.

Source: news.idg.no

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