Monday, 20 January 2014

UK Etailers Make £720 Million International Trade Surplus

UK ecommerce retailers have managed to rack up a £720 million trade surplus, several times more than any other world economy.

The analysis is based on work by research strategists OC&C and Google examining searches across six key markets. It suggests that UK retailers managed to sell far more to overseas shoppers than UK shoppers bought from foreign operators.

The US, the UK, Germany, the Nordics, the Netherlands and France account for half of the global online sales in terms of search volumes.

The UK, which has more popular ecommerce brands per head of population than other countries, was followed by the US, with a surplus of £110 million and Germany with £12 million.

Anita Balchandani, OC&C Strategy partner, who helped to write the Global Retail E-mprire report, said: 'The Google search data provided a unique insight into what proportion of traffic is from overseas. We also obtained proprietary access to shipments data to show parcel volumes.'

'Global searching is becoming the new norm in retail. Consumers around the world use the internet as a global shop window. What used to be a local, national market is now a global one.'

Brands such as Net-a-Porter, Asos and Farfetch rank among the top 20 most sought after retailers by international buyers. Burberry, Dr Martens and Barbour are the most searched for British brands overseas.

'The UK is home to brands that are loved and trusted around the world but we are also unbeatable on service and price. We offer more payment methods, languages and shipment options than any other nation.

OC&C estimates that online trade between these key six ecommerce countries will grow from £15 billion in 2013 to £79 billion in 2020.

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