UK eCommerce

An Expert's View about Mail Order, Electronic Commerce in the United Kingdom

Posted on: 31 Aug 2010

With 32 million UK consumers spending almost £70 billion online by 2011, the UK is the most lucrative eCommerce market in Europe.

UK eCommerce With 32 million UK consumers spending almost £70 billion online by 2011, the UK is the most lucrative eCommerce market in Europe. 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 to be a success in Europe we should be in London and tap into this talent.? Maggie Choo Director of International Business Development and Marketing (EMEA), Published Month Date by UK Trade & Investment For further information please visit Crown Copyright URN 10/931 Image: eCommerce from istock
Posted: 31 August 2010

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