1 in every £5 in UK is spent online
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Ecommerce sales in Britain, the USA, Germany and China will grow by £320 billion in the next 3 years, according to research OC&C Strategy Consultants. Such growth will double online sales in that 3 year period.
Investment in smartphones and an increasing focus on digital from business will be at the core of the growth.
And the good news is that the UK is at the centre of this growth because £1 in every £5 spent is spent online and 59% of ecommerce is already made through smartphones.
OC&C's Anita Balchandani said: "The study has shown that UK retailers are some of the world's most popular and are in a strong position to seize more opportunities abroad,"
Martijn Bertisen of Google added: "The number of people with internet access is growing fast, with many new consumers skipping the desktop phase entirely and only experiencing the web through a smartphone. Our study shows that this is increasingly translating into mobile transactions and that a mobile-first or even mobile-only strategy is now imperative to international success in retail. UK retailers should be well positioned to lead this growth internationally, as UK consumers are already amongst the most mobile of all. PayPal data used in this study suggests that in fashion, for example, 59% of online transactions are already being made via mobile in the UK, compared with 45% and 24% in the US and Germany respectively."
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