With 32 million UK consumers spending almost £70 billion online by 2011, the UK is the most lucrative eCommerce market in Europe.
With 32 million UK consumers spending
almost £70 billion online by 2011, the UK
is the most lucrative eCommerce market
Source: Forrester UK eCommerce Forecast 2006/11
Technology for Retail Access to Talent and Technology
The UK retail sector spends in excess of Over 27% of UK jobs are ICT-related, one of
£3 billion per annum on technology. Key the highest in the world. A key challenge and
growth areas to make operations more opportunity for the sector is exploiting the rapid
effi cient and consumer centric include evolution of technology. The UK, having three
outsourcing and offshoring, standardisation of Europe?s top fi ve Technology Universities and
of business processes, personalisation many other world-class Research and Teaching
of customer services and next generation Universities as well as an extensive industry
greener shared IT platforms. ecosystem, is well positioned to respond to the
talent and technology challenges. Examples
Technology spend is mostly on services for of world-class research strengths include:
retail outlets such as point of sale automation information security; intelligence management;
and automated inventory tracking. network security; and search technology.
Online Retail Technology Financing
The retail sector has revenues of around The UK venture capital market is the largest in the
£300 billion per annum with UK online sales EU, accounting for 40% of European fund-raising,
currently exceeding £20 billion per annum. and second only to the US globally. The economic
Leisure travel is the strongest sector for online impact of the private equity industry is substantial
purchases with both apparel and groceries and is continually growing. Supported at one end
also likely to be areas of signifi cant growth. by networks of Angel fi nanciers and at the other
by Public Markets, raising fi nance to support
There are fi ve UK retailers in the robust business propositions is rarely an issue.
Fortune Global 500.
In addition, a large amount of Government
R&D spending is focused on ICT research and
Knowledge Transfer Networks help to stimulate
collaborative R&D between academia and
industry in UK and internationally.
? Statistics show that two thirds
of international advertising and
branding agencies have their
European headquarters in London,
because it is so culturally diverse.
We knew that if we wanted
Alibaba.com to be a success
in Europe we should be in
London and tap into this talent.?
Director of International Business Development and Marketing (EMEA),
Published Month Date by UK Trade & Investment
For further information please visit www.uktradeinvest.gov.uk
Image: eCommerce from istock