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| | | | 08/06/2015 | Retail Gazette, Veebs Sabharwal - E-commerce market to grow £320bn | | | | | Online sales to grow by £320bn by 2018 | | | | | Retail Gazette reports that research by OC&C Strategy Consultants, PayPal and Google are predicting that online sales across the UK, US, Germany and China will grow by £320bn between now and 2018, increasing the value of the online market to £645bn.
Brits are currently spending nearly £1 in every £5 of their shopping via the web and the new survey suggests that ecommerce will continue to flourish.
Burgeoning online sales will be boosted by smartphones and retailers that invest more in the digital side of business.
59% of online sales are now through smartphones or tablets in the UK, in the US this number is 45% and in Germany it’s 24%.
Leading British retailers will benefit from the steady increase in overseas sales, as the research found that Chinese shoppers now purchase products online from British retailers almost as frequently as domestic shoppers do. British brands are the most popular internationally for German consumers, and the second most popular in the US and China.
International shoppers cited choice of product, pricing and the quality of British goods as reasons for buying overseas, while concerns included data security and the inability to return unwanted products.
The survey is based on search trends on Google and payment transactions through PayPal. |
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