Overseas Online Sales Could Hit £28 Billion

International sales generated by online retailers will rise by £4 billion a year for the next seven years, according to a new study.

Reseach by OC&C Strategy Consultants and Google suggests overseas sales will hit £28 billion by 2020 from £4 billion last year.

The study says international sales will account for 40 per cent of total online sales at that point compared to 14 per cent in 2012. 

Western Europe could account for £9.8 billion, compared to £1.5 billion last year, with Eastern Europe rising from £400 million to £6.9 billion and Asia from £400 million to £4.5 billion. 

Sales in North America will rise from £2.7 billion to £8 billion, the biggest single market but rising at a slower rate because of online competition and the relative maturity of the market, the study suggests. 

The number of searches for British brands and retailers has risen by 46 per cent a year since 2010 and about half the traffic to British names is from overseas.

Google director Peter Fitzgerald said: 'The majority of searches from outside the UK are coming from Europe, followed by North America and Asia. It is driven by the increased popularity of British brands abroad. Retailers can use search data to identify pockets of demand and move quickly to meet those needs.'