RE: The growth of online...12 Apr 2023 09:16
Just look at the growth of online - and this is pre pandemic!!
Online retailers witnessed a sales growth of more than 50% between 2013 to 2018
Retailers are increasingly taking their business online, offering consumers the option of shopping both online and offline. Based on expenditure, online retailers have seen unprecedented sales growth through online channels. That demonstrates the overall e-commerce growth as well.
Offline retailers witnessed a growth of less than 10% between 2013 to 2018
The relatively slow sales growth rate of offline shopping shows how consumers prefer to shop online. Offline stores include retail parks, malls, and town centres. However, this does not mean that offline shopping is dead. On the contrary, retailers can take advantage of an offline as well as an online presence.
A survey conducted each year between 2018 and 2020 found that the two most popular reasons for shopping online are the lower price and the large variety of products available
E-commerce platforms can offer a much more extensive range of products than physical stores, making e-commerce have a distinct advantage over brick-and-mortar counterparts. They also do not have to maintain costly stores in prime locations, which leads to a reduction in prices that they can offer. Top online retailers like Amazon are widely popular amongst consumers due to these reasons.
As the above online sales statistics demonstrate, e-commerce has grown exponentially in the UK. Consumers are taking to shopping online in far greater numbers than they used to. The ongoing coronavirus pandemic is expected to push these numbers even higher as consumers prefer to shop from home for safety reasons. Thus it would seem the online shopping increase in the UK during COVID is concurrent with the rest of the world.
Clothes, food, and home appliances are some of the most common items people shop for online. These online shopping growth statistics of the UK show that the UK is one of the fastest-growing e-commerce markets in the world.
The digital shopping trend is here to stay, whether anyone likes it or not. The growing e-commerce footprint is an intrinsic part of the internet revolution shaping the world in the 21st century.
Sign In
Follow the stocks
