Friday, January 25, 2008

UK Ecommerce Grows Faster than US Ecommerce

While ecommerce is definitely robust in the US, especially online holiday shopping, it doesn’t come close to equaling what is happening in the UK. In December alone, according to vnunet.com, the UK saw 50 percent ecommerce growth.

For 2007, over 2006, UK ecommerce saw 54 percent growth, as opposed to the 19% US ecommerce growth in 2007. As in the US, holiday shopping in the UK, especially during the last week of shopping before Christmas contributed to that growth.

Not only that, but online retail sales in Britain account for 15 percent of the total retail spending, reports vnunet.com:

“Online growth has proved robust and sustainable over the past year, increasing its share of UK retail from 10p in the pound to 15p,” said Anthoula Madden, vice president of consumer products in the UK at Capgemini.

While US ecommerce continues to grow, it does not have near the share of total retail purchases seen in Great Britain. One of the main drivers behind the explosive growth of UK ecommerce is an increase in broadband connections in the UK. Other factors include such items as an increased desire for competitive pricing, convenience and selection.

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Jason Kiwaluk

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Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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